When I left for holidays the Russell 2000 (IWM) made a breakout, only to dip below breakout support. But upon return, the Russell 2000 (IWM) has gone on to make a new breakout on higher volume accumulation. However, technicals are still mixed, although the MACD trigger and On-Balance-Volume are close to fresh buy triggers.

The S&P posted a new breakout after an earlier trend break. In doing so, the process of posting small gains returns. The 20-day MA has played as support and this should continue for now. Technically, only the MACD trigger is holding to a 'sell' trigger.

It was a similiar story for the Nasdaq (COMPQ) as it posts a new breakout, except it did so on net bullish technicals - the only index to do so.

While indices have recovered well from Trump's Tariff Tantrum, none have reached a point where they could be considered extended (relative to their 200-day MAs). And given that, at least until Labor day, the outlook for all markets remains positive.

Only Bitcoin (BTCUSD) has yet to follow the index lead. However, it's well primed to post a breakout with technicals improving.

For now, long trades remain favored.

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