Recovery Continues on Weak Volume
A solid gain continued the development of swing lows in the various indices. Today's gains effectively confirmed the support levels for these lows. The Nasdaq had the best of the action with the swing low forming above 4800 breakout support. The index is about to close the breakdown gap from Tuesday, but first it has to contend with the 20-day MA. Shorts may view this is as an opportunity, although technicals point to mild weakness.