Kicking off things is the S&P breakout. Today's volume was massive. With today's gain it only has to negotiate the tight range from July/August before new all-tie highs are in play. Today's gain brought fresh 'buys' to Stochastics, +DI/-DI, and MACD.
The Nasdaq came back to close above its 50-day MA. It will soon find itself challenging the 'bull trap' from the upside breakout of the prior rising wedge. A move above 5,340 opens up the possibility of new highs.
The Russell 2000 was the big winner. A huge 3% gain (were a 3% loss was a distinct possibility) delivered a close above 50-day MA and new 'buy' signals in the MACD and +DI/-DI.
You've now read my opinion, next read Douglas' blog.
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Dr. Declan Fallon is the Senior Market Technician for ChartDNA.com, and Product Development Manager for FirstDerivatives.com. I also trade on eToro and can be copied for free.