After weeks of back-and-forth it looks like bulls are about to kick on off the back of a solid day of buying. The Nasdaq had the best of the action as it edged above its handle, leaving it in a zone to go challenge 20,000. The MACD is holding to a 'sell' signal, but is close to a new 'buy' signal and a return to net bullish technicals. This is looking very positive for the index, and only the lack of accumulation volume is a (mild) negative.

The reversal following Thursday's strong open shows bulls aren't willing to take profits yet. The Russell 2000 ($IWM) holds onto 20-day MA support with a new 'sell' signal in On-Balance-Volume to build on the earlier 'sell' signal with the MACD. The S&P finished with a bullish cross in the 200-day MA, by the 20-day MA as Friday's options expiration inspired volume closed with a doji. Technicals show a 'sell' trigger in the MACD as the weakness in relative performance to the Nasdaq slows. The Nasdaq also finished with a doji that successfully defended last week's early week gap higher. As with peer indices, we have seen the degredation of net bullish technical strength with a 'sell' in the MACD. The Dow Industrial Average has 'sell' triggers in the MACD and On-Balance-Volume as the index itself trades just below its 200-day MA. Monday offers an opportunity to push into the space towards all-time highs. ...