Jobs data brought with a roller coaster sell off and recovery, but by the close of business markets finished above their open price. The Russell 2000 had the best of action, continuing with its relative improvement to other indices.  The 200-day MA beckons.

Today may have marked the second day of selling, but the selling was modest and nothing to threaten bulls. There were some minor technical changes. The S&P triggered a 'sell' in On-Balance-Volume, and flashed a relative strength trigger loss against the Russell 2000. Howeve, the index is well away from either price support or resistance.

The winning streak continued with indices enjoying further gains on higher volume accumulation. While percentage gains were small, the volume traded was above that of yesterday. The Nasdaq 100 built on its breakout on respectable volume. The breakout probably hasn't enough wiggle room to protect itself from a days worth of selling, but there is a substantial gap to protect which will offer bulls something better to work with.

Straight from the off it was a day which belonged to bulls. There was no let up from what was a steady rise higher from open to close. Volume was a little disappointing, but it was a good day for the Russell 2000 and Nasdaq 100. The Nasdaq 100 did enough to close with a new high on continued technical strength. It was enough to knock out my short play, so next is to watch for the 'bull trap'. The flip side is a strong set up for a rally into Christmas. Remember, the strength of the sell-off in August/September was the first since 2011 - a basis for a strong swing low.