The S&P 500 index and the Dow Jones Industrial Average both delivered a decent bounce and look like they want to retest their recent highs. Meanwhile the NASDAQ composite and the small cap Russell 2000 index are still stuck under an intermediate trend of lower highs. However, it almost feels like the big cap indices might slowly drag the small caps begrudgingly higher.
We are not adding any new plays to the Premier Investor newsletter tonight. Keep an eye on the Russell 2000 and resistance near 1120 and its 30-dma and 200-dma. A breakout there could be a turning point for the market.