The shorting opportunity presented on yesterday's intraday close didn't last the morning. The S&P opened above 2,009 support and this level didn't get a look in through the day. I have widened the Fib levels, but there is a chance it will push higher tomorrow.

The Nasdaq is holding above 4,601, but finished with a lower close. The breakout remains in play, but is more vulnerable to a 'bull trap' than the S&P.

The Russell 2000 hasn't broken past key resistance, and is loitering around another level of resistance at 1,180. Today's 'black' candlestick suggests there will be further inroads into last week's gap.

However, the Semiconductor Index posted a gain which brings it closer to 652 resistance. Note how its relative performance against the Nasdaq 100 has swung recent action in its favor. Bulls probably have the best chance in this index.

Tomorrow is well placed for bulls to continue their advance. The risk is a 'bull trap,' but it will require a close below breakout support. A 'bull trap' will be a shorting opportunity.