After the success in the S&P and Semiconductor Index it was now the turn of the Nasdaq to follow the lead action. The Nasdaq pushed above 8,330 resistance on lighter volume but net bullish technicals.

Sellers tried to reverse the breakouts in the indices but were instead undone by higher volume buying. Indices which had broken out remained above resistance, while those still waiting remain well placed to do so. The S&P tagged breakout support on higher volume accumulation. There has yet to be a supporting breakout in On-Balance-Volume to match the breakout in price but volume rose in accumulation.

It didn't take long for the S&P to follow the lead of the Semiconductor Index with a breakout of its own. The move was not substantial, barely registering above a 0.5% gain, but it did clear 3,025 resistance, which is now new breakout support.

It was an excellent Friday for bulls with light volume the only mark against the indices. Semiconductors led the way as after much toing and froing in recent weeks the index finally made a decisive most past resistance. The breakout for the Semiconductor Index came with a solid uptick in relative performance against the Nasdaq 100, although this move should help Tech Indices follow higher.