The Nasdaq started the day in the gap created by yesterday, but it was able to finish the day just a few points shy of yesterday's close. While a down day, volume was lighter than for the S&P.
Similarly, the Russell 2000 sported a minor loss, but more importantly retained the breakout generated over the past couple of days.
The Dow recorded the best of the action, clearing the 50-day MA on lighter volume.
Bulls can be very satisfied with Wednesday's action. Weakness remains a buying opportunity until 'bull traps' emerge (if at all).
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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com.
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