The Russell 2000 (IWM) could be driving the lead out with a gap breakout of the declining channel alongside a close above the 20-day MA. The bounce off the bottom comes with a 'buy' in the MACD after a successful reach of the measured move target. The next target is redrawn resistance at the red hashed line and/or the 200-day MA.

The S&P has managed to make it back to its 200-day MA and the January swing low. There were new 'buy' signals in the MACD and On-Balance-Volume with volume spiking on Friday's option expiration. Expectation here is for the rally to stall and perhaps consolidate around 5,775 for a few days. Friday's gap will be a bearish draw in the near term.

The Nasdaq gap managed to close above the 20-day MA but still has the 200-day MA overhead playing as resistance. As with the S&P there are 'buy' triggers in the MACD and On-Balance-Volume, but unlike the S&P, it has a long way to go before it gets to he January swing low.

Btcoin (BTCUSD) rebounded off its measured move target and pushed above its 200-day MA. Next is the 50-day MA, then former support at 93,500. Action is positive, only there is a lack of buying volume to suggest there is real demand to keep the rally going. But what's in motion stays in motion. I have drawn in a new downward channel that if breached will set up for a larger move back to 110K.

The Dow Industrial returned inside its trading range along with a close above its 200-day and 20-day MA. There are also working 'buy' triggers in the MACD and On-Balance-Voume to ride off. It may be the first index to challenge all-time highs.

For tomorrow, indices are a different stages of recovery. As the weakest, the Russell 2000 ($IWM) has finally managed to step out of its four month slump. The Dow Industials Average is the strongest index, and may have created its own 'bear trap' with the recovery above 42K. Bulls retain control for now.

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