The Russell 2000 probably gave up the most ground intraday, but finished with a small gain by the close. I'm liking the 'doji' next to the 'bullish hammer'. These aren't reversal candlesticks, but they do mark the presence of demand at support.
The Nasdaq edged ever closer to the 10% envelope tag. Another gain counts for the ninth gain in a row. At some point, the music will stop, but it hasn't yet. The key level is 4,810 support.
The S&P was like a mini-Russell 2000. The index finished near Friday's high and remains nicely bullish.
For tomorrow, keep eyeing the bullish plays. It will take a 'bull trap' in indices (a loss of Friday's breakouts), to hand bears control.
You've now read my opinion, next read Douglas' and Jani's.
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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com, and Product Development Manager for ActivateClients.com. You can read what others are saying about Zignals on Investimonials.com.
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