The S&P remains primed below resistance. Aggressive traders can use today's lows for stops - although a rapid intraday spike low may trap bears. The S&P still looks like it's playing for a higher push.
The Nasdaq was barely scratched. Volume was lower. The breakout is looking comfortable.
The Russell 2000 sticks to its breakout, but hasn't negated the 'bull trap'.
With the narrowing intraday action, the swing trade becomes attractive. The narrow losses tighten the risk threshold for buyers - who look more likely to benefit from today's action.
---
All Contributions Welcome - Thank You!
Follow Me on Twitter
Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com.
You can read what others are saying about Zignals on Investimonials.com.
JOIN ZIGNALS TODAY - IT'S FREE!