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It was a bit of an off day. The gap down had all the makings of a substantial sell off (one I tried to short), but in the end, it was longs who came out on top. The question for tomorrow is if today's action can deliver a challenge on yesterday's highs, and get past them on a way to challenge all-time highs.

The S&P is the best of the indices. The day finished flat, but today's action remained close to yesterday's doji. It's the index most likely to follow through tomorrow.

On the subject of Large Cap indices, the Dow Jones Industrial average actually pushed beyond yesterday's candlestick, although it's up against another resistance level.

The Nasdaq is next in line, although we could be looking at a bearish 'evening star' despite today's gain. Today's gain wasn't enough to prevent a new 'sell' trigger in On-Balance-Volume.

While the Russell 2000 (IWM) has the most well defined bearish 'evening star', although the pattern typically requires a standard red candlestick as the third candlestick for the pattern (not the one delivered). It was interesting to see volume drop across the pattern, typical for a "bear flag", so I would not be suprised to see today's gains reversed. Technicals are net positive, so there is work to do if this is a bearish scenario.

Heading into tomorrow, watch the Dow Industrial and S&P indices for leads. If bullish momentum is maintained and the aforementioned indices post gains, then I would expect the Russell 2000 to push higher.

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