The S&P, Dow Jones Index and Russell 2000 all delivered clean breakouts on bullish technicals. Best of the Breakouts was probably the Russell 2000.  The only disappointment was the relative loss against the Nasdaq. However, the index is ready to challenge January highs and resume the prior bullish trend.

Despite the exit of U.S. from the Iran Deal there was no real damage done to the market. In fact, some indices are well positioned to benefit. Best of these looks to be the Russell 2000. Today's close left the index right against triangle resistance with a fresh MACD trigger 'buy' along with a similar trigger for the +DI/-DI.  This helped tick relative performance in Small Caps favour.

A solid close to the week helped advance Thursday's recovery. Tech Averages had the best of the action. Any short trades should be covered as the nature of the price action has shifted more sideways/bullish. The Nasdaq 100 cleared declining resistance with a new bullish cross in relative performance. There was also a 'buy' trigger for On-Balance-Volume and MACD. Next tests are 6,856 and 7,000.

Tuesday's round of buying didn't last long as sellers took another swing at pushing prices lower yesterday. However, today's buying was a little more appetizing for bulls. The S&P generated another spike low, this time with a doji at the 200-day MA. Technicals did turn net bearish and relative performance has remained weak since the larger triangle/wedge breakdown in March.