Small Caps Pressuring 'Bull Trap'
Declan Fallon | Mar 31, 2015 12:51AM ET
Yesterday, the Dow had the best of the action, with higher volume buying to close the day out. The index closed above the 20-day and 50-day MAs. The next challenge is to push above 18,100; which is the 'bull trap' and the recent spike push to 18,205.
The S&P didn't quite enjoy the same relative gain as the Dow, and yesterday's volume was lighter than Friday. However, it did manage a close above 20-day and 50-day MA.
The NASDAQ also pushed higher volume accumulation. It's probably still a few days from challenging the 'bull trap'.
The Russell 2000 also stepped up to the plate and is in the process of challenging 'bull trap' supply.
The best outcome for the coming days would be for the Russell 2000 to break 1,268. This will help Large Caps follow higher. Otherwise, things might get scrappy.
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