Daily Market Commentary: Pause in Rally
Friday's action marked a balance between bulls and bears. Tech and Small Cap indices finished with indecisive doji, marking a swing trade opportunity; buy/sell break of Friday's high/low with a stop on the flip side. The S&P and Dow closed lower, but not enough to suggest bears finished the day in control. The losses in the S&P weren't enough to trigger a 'bull trap', so the long-side play is still favoured. Selling volume was also down on Thursday's buying, another reason to suggest bulls have control. Technicals remain net bullish.