Daily Market Commentary: Quiet Day

The bullish picture remained intact after another narrow range day on light volume.  The Russell 2000 continued to offer the best opportunity for bulls, trading in a tight 'flag' with good potential for a measured move higher.  Such a move would take the index back to the September high.

The Nasdaq lingers around its 200-day MA, but hasn't driven through to suggest bulls have consumed all the supply common at key moving averages.

The S&P is holding on to its 50-day MA, but today's doji offered little to either side.

Bulls to press on tomorrow?


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