Indices take a breather in preparation of breakout support tests.
After last week's strong gain we had a quiet start to the week with indices finishing the day much where they opened.
The one index which may be blinking a little is the Russell 2000. The index closed with a bearish black candlestick, but even if this plays as true it will only initiate a breakout retest. There is plenty of room to absorb some weakness without breaking the bullish thesis.
The Nasdaq also closed with a small bearish black candlestick, but it occurred inside the prior's day range. Technicals are positive and the index didn't see an acceleration in its relative loss to its peers.
You've now read my opinion, next read Douglas' blog.
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