The SP pivoted of support at the 50dma to rally 13 handles on expiration Wednesday. The next challenge is the February high at 1343. While today was a very strong session, it was not strong enough to record a price flip.

Naz was higher by 24 but came up short of reclaiming the 8/8 level and also the 10ema. Note that price remains above the active DTL (red).

Multi sector daily chart:

The OSX was top gun on the day but is still trapped in the recent range. A close over 270 is needed to tilt the balance back in favor of the bulls. The next level for the bears on the downside is the 8/8 Gann level at 250.

The SOX was the top performing the Naz sector. There is considerable overhead until price clears 450.

The BTK remains under the 1500 8/8 level which is resistance and could be the top of an immature consolidation range.

The BKX was higher on the day but didn’t have much range expansion after yesterday’s reversal candle. Keep a close eye on the active DTL. A close over this could kick in some upside momentum.

The defensive consumer staples index (CMR) closed at a new high on the move. Price has room before hitting resistance at 8/8.

Oil was higher by $3.

Gold was higher but settled below 1500. Keep an eye on the DTL.