It was another relatively quiet day for the indices yesterday, except for two. The Dow pulled away from breakout support, although volume was lighter. Technicals are all net positive.
The other winner was the Semiconductor Index. Yesterday's close finished with a bullish engulfing pattern with good support at 700.
The NASDAQ continued its run to the upper 10%, 200-day MA envelope. Unlike the Dow, trading volume rose to register accumulation. The winning sequence has now climbed to ten consecutive days.
The S&P 500 kept chugging as it added to last week's breakout. Volume climbed to register accumulation.
For today, keep an eye on yesterday's lows; a loss of these would offer an aggressive short play, with a stop above the high of either yesterday and today.
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