There wasn't a whole lot of action on the day, but the Russell 2000 was able to add nearly a quarter a percentage point and hold on to its breakout. Technicals have stayed net bullish since the break from the original channel (which ultimately led to the current trading range).

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.