Markets breakout from preliminary bottoms
It's early days but Friday's close into the long weekend generated some solid bottom breakouts. The Nasdaq, S&P and Russell 2000 all made positive resistance breakouts from their swing lows as technicals began to improve. The Nasdaq closed above 12,000, and cleared declining resistance established from the March high. This came with a MACD trigger 'buy' and On-Balance-Volume 'buy' trigger. This is looking better than it did in March when a similar breakout was attempted, but the index is now trading at better value.