A bright start for bulls on the back of positive $NVDA earnings wasn't enough to generate a day of meaningful gains.  However, it did help stall the losses of the last couple of days. The Nasdaq was the biggest beneficiary of today's action, but not enough to see an end-of-day finish that cleared last week's swing high, nor delivery of a large white candlestick, despite the morning breakout gap.  Technicals are net bullish and relative performance against the S&P has become consistently stronger since the start of May.  While today's candlestick I would view as typically 'bearish', today's volume ranked as confirmed accumulation (bullish). Overall, I would be looking for higher prices from here. 

I thought there was sufficient evidence to argue against a "bull trap" in the S&P, but it would appear the market wasn't interested in such thoughts and sellers were quick to reverse the initial push above 4,200.  Adding to the pain were new 'sell' triggers in MACD and On-Balance-Volume, although the former occurred above the 'bullish' zero line, making it a weak signal. Selling volume ranked as distribution as selling momentum picked up speed.  The index is also underperforming relative to the Russell 2000. 

If you missed the morning opportunity or were waiting for confirmation, well the S&P delivered with a solid breakout, albeit on modest volume.  Today's breakout came with a MACD trigger 'buy' and On-Balance-Volume 'buy' signal, leaving technicals net bullish.

Things are picking up for bulls.  The Nasdaq added a solid white candlestick to make the current move look more like the breakout that started (and stalled a little) last week.  Add to that, Wednesday's buying came with confirmed accumulation.  Technicals are net positive, so it's good news all around for the index. 

No great change on the day.  Buyers maintained control of markets, banking small gains on low volume.  The longer this continues, the better the chances we will see an acceleration to the upside.  The Nasdaq has been slow and steady.  Technicals are net positive with a return to the 'buy' trigger in On-Balance-Volume.  The index is holding on to its outperformance against the S&P and closed at a new high - reversing all of Friday's losses.

The Nasdaq went into the weekend with a breakout, and despite Friday losses it managed to cling on to breakout support.  There was good buying volume on the breakout, and Friday's selling volume was well down on previous buying - confirming the move.  The let down was the lack of price follow through.  Technicals are in good shape, particularly stochastics amd relative index performance. The only disappointment was the relatively lacklustre MACD, which has flatlined a little. 

Hardly inspiring, but a price breakout it was.  The Nasdaq edged itself above resistance, but it will need to do more to confirm.  There was a MACD trigger 'buy' to go with generally improved technicals - although On-Balance-Volume remains bearish. Today's candlestick was not exactly blowing it out of the water, but it did qualify as a breakout