Today the S&P ticked all the boxes as it closed above the 'bull trap' in a fresh breakout that came with a higher volume accumulation. It was a solid statement of intent for bulls.

The Nasdaq didn't do a whole lot other than retain its mini breakout. Technicals are net positive and the index is well positioned to join the S&P with a breakout of its own.

The Russell 2000 (IWM) continues to run up against its 50-day MA as whoever insists on selling there rules the roost. Volme has declined markedly and technicals are mixed, but mostly bearish.

For tomorrow, look for the Nasdaq to follow the S&P with a new breakout of its own. A more modest victory would be a Russell 2000 (IWM) close above its 50-dy MA.

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