Today’s trading in the Stock Indices was significant. Instead of continuing the decline that began yesterday, they surged at the open. Most significant was the increase in market breadth supporting price. Also, NASDAQ breadth and volume surged, supporting today’s move. Only the Russell is still lagging. While today was a complete reverse of yesterday, what happens tomorrow will potentially give us an indication of the next greater degree move.
Reversing today’s move would be a bearish indication. Exceding and holding above today’s high would be very bullish in the short term.