Bull Flags for Nasdaq and S&P
The last few days have seen the S&P and Nasdaq consolidate their bounce with 'bull flags'. Both markets are coiling in preperation for a follow through move - presumably higher. In the case of the Nasdaq, we have 'buy' triggers in the MACD, On-Balance-Volume and +DI/-DI - although stochastics are struggling to cross the mid-line. The index is outperforing the S&P which should favor a move higher and a challenge of the 50-day MA.