Friday's solid gains helped push both the Dow Jones Industrial Average and S&P into challenges of their respective 'Bull Traps'. The big volume surge also marked a strong accumulation day for both indices. In the case of the S&P, there was a MACD trigger 'buy', but not quite an On-Balance-Volume 'buy' trigger, with which to work with.

The Nasdaq posted a minor gain on low volume and performed better than the S&P. It didn't really change anything, but it didn't hurt and the MACD is on the verge of a 'strong buy' signal.

Janet Yellen signaled the not to surprising start to interest rate hikes, and markets along with EURUSD, rallied on the news. Best action was to be found in the Russell 2000. It managed to break key resistance and bank some distance from the year long consolidation. Today's action was excellent news for bulls looking for a new phase in the 2009-present day bull market; it's starting to look like 2015 will be the year for Small Caps.

The day is probably over for most of you, but for those on the West Coast, or my old Hawaii stomping ground, Happy Paddy' Day! Now get the latest market action report from  Douglas  and Jani . --- Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more. Follow Me on Twitter Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com , and Product Development Manager for ActivateClients.com . You can read what others are saying about Zignals on Investimonials.com . JOIN ZIGNALS TODAY - IT'S FREE!