Bulls continued to squeeze shorts. This time I was thankful not to attack it as a short, but there didn't appear to be a lack of others on the wrong side of the trade. Volume wasn't great, but long holders won't mind that. The S&P is approaching a crux of resistance between the swing low of July and declining resistance from July/August highs. Above that lies the 200-day MA, which may offer a spike high. Bears would ideally like to see a failed move above 2,044, with a close at or below 2,044. Technicals are all in the green, which gives bulls reason for optimism.

Lead indices continued to experience selling, but Semiconductors posted strong gains which may help drive the Tech indices over the following days (despite minimal positive impact today). The index has already pushed the breakout, and today's looks like a follow through on this breakout, not to mention a break beyond the September swing high.

It has been a while since sellers finished the day with the upper hand.  But since the retest of August lows sellers have found it difficult to build a foothold for which shorts can attack. Today's action is a start, but it's not a victory for shorts. The Nasdaq 100 has been knocking on the door of the 200-day MA for a few days, but today was the day it finished with a bearish gravestone doji at this moving average. The 'Breakout' is still valid, and technicals are still net bullish, but a 'bull trap' would increase pressure on longs.

After the rally of the last couple of weeks, Friday's narrow range gains felt like it may offer bulls a break from their buying. There are a couple of resistance levels in play for some of the indices, but these have't played important roles in recent months as markets traded in narrow ranges. The Nasdaq is one such index. It finished Friday at its 50-day MA with a supply level lurking at 4,900 and declining resistance between it and 50-day MA.

Good stuff for bulls as resistance levels get ticked off on the advance. There breathing room for many indices and a chance for consolidation. Nit pickers could point to light volume, but it would be hard for buyers to be coming in here given the sequence of gains. The Nasdaq 100 still remains tagged to resistance. Can it break tomorrow or will sellers make an appearance. All I know is yet another short trade of mine is stopped out. I should add, I haven't touched my investment account. I would be looking to buy if I had the funds available.

Bulls can be happy with today's progress. What weakness emerged today was reversed by the close, a change on yesterday's action where sellers dumped in the last few minutes of trading. Volume climbed to register an accumulation day. The S&P finished at the 50-day MA, but beyond that there is plenty of room beyond that to run to the next level of resistance at 2,045. Technicals are net bullish.

Most of the gains were posted pre-market, but bulls were able to hold gains after a couple of days of bullish strength. The S&P is on course to finish with a spinning top doji. The 50-day MA is just overhead and close to 2,000 psychological resistance. Technicals are close to turning net bullish.