Friday was options expiration, which spiked volume, but it also saw higher prices for many of the indices.
The Russell 2000 was/is the lead index but it reversed its recent breakout to fall below support, but it did find support at its 20-day MA.Technicals are a little mixed with a 'sell' trigger in the MACD and ADX, but bullish technicals intact for On-Balance-Volume and Stochastics. The index is still outperforming the S&P and Nasdaq.
The Nasdaq is caught below its 50-day and 20-day MA but is looking to shape a higher low.
The S&P wasn't quite able to post a higher close, but it remains above its 20-day and 50-day MA as the index looks to reassert a leadership role relative to Small Caps.Of technicals it has a 'sell' trigger in On-Balance-Volume
For tomorrow, we will want to see the Russell 2000 return to challenge its breakout or for the S&P to become the new market leader.
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