Despite the long weekend there was very little change in the markets. Markets are holding near highs, which is good news for bulls looking for breakouts to hold. The index to watch out for is the Russell 2000. As the speculative index it leads out on major market reversals, and at the moment its clinging on to a breakout.

The Nasdaq put further distance on its breakout as technical strength improved. Volume fell, perhaps the only sour note on Friday. However, continued strength in Tech indices will help maintain breakouts in other indices .

After a solid setup yesterday, the Nasdaq and Nasdaq 100 broke higher today. Supporting the breakout was an increase in volume, marking confirmed accumulation. Technicals also remained aligned with bulls, staying net bullish.

Yesterday it was the S&P and Semiconductor Index which broke higher.  Today that honor almost went to the Nasdaq, but it couldn't quite do it. However, the Nasdaq is well placed to do so tomorrow. The Nasdaq finished with an accumulation day, and the consolidating breakout in the Semiconductor Index should help deliver the break. Technicals are nicely positioned as net positive too.