The biggest gain was from the Dow Industrials. While the gain was nothing to write home about it was the only index to register a gain. Volume was lighter but technicals are net bullish. If there was a downside, it's that relative performance needs a pick up to run alongside index gains. The S&P didn't change a whole lot so haven't feature it.
Small Caps tagged converged 20-day and 50-day MA in a small loss. This has set itself out as a successful support test, but no further losses can be taken for this to remain a successful support test.
The Nasdaq barely acknowledged a gain (or a loss) and technicals didn't change a whole. There was a MACD trigger a 'sell', but it has effectively flat-lined before this so one cannot read a whole lot into this.
Semiconductors didn't flash a bearish evening shooting star, so the gap higher has a greater chance of sticking (bullish)
So, for tomorrow, we will want markets to hold what support they have, but ideally bulls will want a 1% gain to push markets beyond the minor gains registered today.
You've now read my opinion, next read Douglas' blog.
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