Trump's Russian shenanigans didn't move the market as much as such actions in the past may have done but not all markets escaped such interest. The Russell 2000 took the brunt of Friday's selling.  The 'bear flag' off former support, now resistance, followed through lower to bring the index back to a flat-lined 50-day MA.  Technicals are mixed with 'sell' triggers in the MACD and +DI/-DI. Relative performance accelerated lower after months of underperformance. Small Caps are key bull market leaders but there has been a distinct lack of interest from buyers for the last 6 months and this is not good news for other markets.

It was probably too much to ask for an election result which is closer to maintaining the 'old' status quo than spark anything radical. However, it does offer continuity for markets which should prove favorable down the road. While there was little reaction to the result, markets continue to maintain their bullish stance. The S&P is above its trading range and holding its breakout with a narrow doji. Volume remained light in line with Friday's.

After a relatively quiet week markets finished strong on Friday. This helped push markets out of their trading ranges for the last few days. Volume was subdued but this won't matter if there is some follow through on Monday. The S&P has broken from its narrow consolidation which had bumped along just below the previous high of 2,400.  Current action looks very healthy with technicals supporting price action; a loss of 2,380 would push things back into a consolidation, but not enough to send long-term holders running.

All lead indices are net bullish in technical strength as markets consolidated last week's gains.  The S&P has posted a series of doji/hammer after emerging from a bullish 'flag' / downward channel.