A surprising turn by bears (still 30 minutes until close) has undone all of Friday's bullish gains and quickly dropped indices back towards support levels. Unfortunately, my Nasdaq 100 short was knocked out at its stop pre-market. Had bulls not put the work they did to recover initial losses on jobs data I might still be in this. C'est la vie. The S&P fell back to converged support of the 20-day and 200-day MAs. There is some claw back from the lows, so this support could hold through tomorrow.

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.