The S&P took a minor hit on higher volume. While technically, today's action counted as distribution volume, the doji made it a non-event. Breakout support held, Technicals are healthy which keeps the bullish picture intact.
The Nasdaq also experienced tight action with higher volume churning and breakout support holding. Nothing to swing it in either direction.
The Dow remains primed for a breakout, but there was little else of merit for today.
For tomorrow, watch for a breakout in the Dow. Shorts need to watch for 'bull traps' in the Nasdaq and S&P. Other than that, recent action doesn't offer much guidance.
You've now read my opinion, next read Douglas' blog.
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