While Small Caps stole the show last week it may be the time for Large Caps to step up to the plate. Leading the charge is the S&P. The index is sitting just below resistance after ending the week just shy of a break of 3,025. Technicals are net bullish, which should help. Despite two sequential doji, volume was lower on the down day, which is bullish.

A big day for bulls as two key economically sensitive indices make strong moves. Best of the action was given over to the Russell 2000; a 3.5% gain keeps things buoyant but it's also smack bang in the middle of the trading range.

While the indices finished at prices without fanfare, the intraday recovery was very good.  The S&P spiked down to its 20-day and 50-day MA with a bullish hammer. Volume climbed to register as accumulation. Technicals remain net bullish although relative performance eased.

There wasn't a whole lot to say about Friday's trading. The solid move made over the course of the week across indices was maintained with either small losses or doji.  Part of this is because indices are now approaching multi-year highs which will see increased resistance. The S&P posted a small doji as technicals remained net bullish.