There was a small loss in the indices as Friday's gains consolidated. The S&P closed with a tweezer top, which is a reasonable marker for a bearish (and potentially trade-worthy) reversal. There are zones of support which will stall any decline, but for tomorrow, look for follow through losses.

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.