Monday registered further gains, but buying volume was light. The biggest gain was the Russell 2000 as it added 2.65% on an acceleration of the gains. This was enough to return a new 'buy' signal in the MACD, returning technicals as net bullish.

The Nasdaq didn't quite register the same gain as the Russell 2000 but there was a further divergence in the relative performance of the Nasdaq to the Russell 2000.

The S&P also continued its run into the rarified air of no resistance, although - like the Nasdaq - it continued to lose ground relative to the Russell 2000.

The Russell 2000 is at risk from pulling away from other indices and becoming a runaway blow out as it sucks the air out of the room.