There wasn't a whole lot of change in markets with the Russell 2000 edging back to support. Small Caps remains the most vulnerable to an increase in profit taking with the 50-day MA playing as the last line of support. If there is a loss in such support watch for it to spread to other indices which are holding up better.

Friday's action stemmed whatever profit taking was in play from Thursday. It kept bulls well placed to attack again Monday, barring some early morning Trump Tweet Disaster. After the Winter lull, the S&P kicked off the spring in style with solid gains. All lead technicals are on firm 'buy' sganal. If bears are to gain a foothold it will likely require a retest of highs to confirm a switch - so bulls should have a second chance to get out if there is any concerted profit taking here.

Bears get a sniff of something, then Bulls come along and blow the nascent opportunity out of the water. It was a big day for indices - the Russell 2000 in particular, as buyers jumped in early and played hard for the day. The S&P tagged the upper 10% band and is close to the 15% of historic high prices dating back to 1950. The last time the S&P was up at these levels it was May 2013 - which ultimately proved to the middle of a rally which lasted another 2 years.

After successfully defending former resistance turned breakout support, the Russell 2000 experienced a relatively heavy reversal. It hasn't yet given up breakout support, but the index now finds itself back at the 20-day MA. It did so with a 'sell' trigger in the MACD and another relative loss in performance against the Nasdaq