A solid period of Friday buying keeps the bounce going across markets
There wasn't a whole pile of buying volume to go with gains, but the Nasdaq, S&P and Russell 2000 ($IWM) all did their bit to keep the nascent bounce going. It has the look of a zig-zag like bounce, but until we see the "zag", these indices gains are set to challenge March highs. Traders have Thursday's lows for assessing any risk:reward longs for the coming week, although if we were to head down there this week it would probably amount to the start of the "zag". Of the three lead indices, the bounce in the Russell 2000 ($IWM) looks to offer the best risk:reward. Technicals remain net bearish, and the move out of oversold stochastics is one I would view with more skepticism than optimism (I want to see a mid-line cross in stochastics to be more confident of a long term bullish recovery), but if it can make a higher low and stay above its 200-day MA it's an attractive option for longs. The Nasdaq has a much larger differential between Frida