After Friday's gains in the Dow there was an opportunity for other indices to follow suit, but buyers suffered a bout of shyness. Tech and Small Caps finished the day near their lows after handing back early gains. For the Russell 2000, the day finished with an inverse hammer just below its 50-day MA (which is about to 'death cross' with its 20-day MA). The inverse hammer followed Thursday's indecisive doji, leaving the gap vulnerable to a fill tomorrow. A new downward channel may be emerging here and needs to be monitored.

Star of Friday was the Dow Jones Industrial Average as it cleared congestion dating back to March, although there is still the 'bull trap' from February to clear. Volume climbed to register as accumulation, and it came with a MACD trigger 'buy' and On-Balance-Volume 'buy' trigger.

Sellers took control of markets with the Nasdaq following prior weakness in the Russell 2000 with a breakdown. This just left the S&P trading at support with very little room for maneuver if bulls don't make an appearance tomorrow. Volume climbed in confirmed distribution and there was a 'sell' trigger in the MACD.

It was a bit of a non-event for indices as early gains were unable to hold by the close of business. As a result, some of the challenges on highs faded and all indices remained inside prior consolidations. Volume was also down on Friday's, which kept things muted.  For example, the S&P touched on 2120 resistance, but finished below this level.