The other index doing well for bulls is the Russell 2000. The bounce off the 200-day MA recovered the tweezer bottom swing low and has left a new ‘bear trap'. Next is a rally to challenge the March ‘bull trap' above 1,550. The index is in a good position to do so with the recovery of stochastic mid-line and the acceleration in relative performance (vs the Nasdaq).

There wasn't a whole lot to Tech action. Today's trading was focused elsewhere so little to add to Nasdaq and Nasdaq 100 action. Today's ‘black candesticks' would normally be considered bearish when they occur at a swing high but in the middle of a trading range they are less threatening.