It wasn't a day for big moves yesterday, but markets continued to post modest gains. The S&P 500 registered an accumulation day on higher volume as technicals remain firm. The index is looking to accelerate beyond channel resistance,
The Semiconductor Index keeps rolling with no overhead resistance. These gains should help the NASDAQ and NASDAQ 100. Little in the way of technical resistance to consider
The one potential trade for today is the Russell 2000. The index is showing an inside day to an inside day; swing trade a break of the high/lows with a stop on the flip side.
For today, momentum traders can look to the SPY (NYSE:SPY) and COMPQ and trade in the direction of the trend (higher) while the RUT trade is contingent on the break of the 2-day range.