A respectable day for markets, unwinding much of the damage caused by Friday's selling. Volume was down, which softened the day's buying. The S&P had the best of the action, which was a little against expectations for Tech/Semiconductors to drive the gain.

Yellen's speech pushed markets both up and down, but probably left more minds stuck in indecision than offered a clear path forward. Markets don't like indecision, which gives bears and weak longs an opportunity to sell. There are still key support levels to break, but recent weeks of tight action could lead to an unraveling. The S&P finished as registered distribution with new 'sell' triggers in On-Balance-Volume and Directional Indicator. The index has been stuck in a relative downward turn since July (against Small Caps). This index is offering the clearest 'sell' signal.

Yesterday's buying likely caught shorts out, but later weakness may have encouraged profit taking today. The damage was relatively light and only served as a warning. For example, the S&P didn't lose breakout support and selling volume was light

Markets made a break higher, although only the move for Small Caps stuck.  The Russell 2000 managed to finish with a new closing high and is very close to a fresh MACD trigger 'buy'. There was a significant gain in relative performance of Small Caps against Large Caps and Tech.