Modest gains for S&P and Nasdaq as follow through selling fails to emerge
Index rallies have so far remained remarkably robust even when a move down looks the easiest path. The Nasdaq and S&P experienced selling into Monday and posted two small days worth of gains, albeit on lighter volume. However, the setup continues to look bullish for both indices. Technicals for the S&P are net bullish, but the Nasdaq generated a new 'sell' trigger, although the latter is still outperforming relative to peer indices.