The Russell 2000 closed near the day's high as it looked to recover from the break of 1,390 support. However, a push above 1,400 would be needed to reverse the 'bear flag'; if this is managed it would effectively confirm a swing low and open up for a move to 1,425.
The Nasdaq enjoyed an accumulation day of its own, although it added only 0.3% as part of yesterday's breakout. Technicals are good and the index is well placed to enjoy further gains.
Just as a mention, the S&P experienced a small loss but not enough to reverse the challenge on last week's breakout.
For tomorrow, look for more of the same.
You've now read my opinion, next read Douglas' blog.
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