The Stock Indices today continued their rally off the recent lows with the S&P and Dow Industrials testing or taking out their all-time highs. While the NASDAQ is lagging to some degree, it had a strong day in terms of both volume and breadth.
Based on the analysis of a trend, the recent downtrend is complete with the elimination of a lower high being traded through. However, I am very concerned about the lack of volume. It is actually declining with each move higher. Until this divergence is eliminated, I will approach long positions with good stop management.