Today, the NASDAQ Composite, S&P 500, and Russell 2000 had an outside day. This means that today's high was greater than yesterday's high and today's low was less than yesterday's low. As the indices closed just below their highs today, we can assume that these outside days are suggesting further strength to the upside in the days and weeks to come. The recent pullback has almost definitely ended.

The NASDAQ Composite found support on its 50 day moving average before pushing 1.21% higher today. You can see how the index is sitting right above its recent resistance in the 2600 area. The next resistance areas are 2625 and 2635. A sustained break of 2635 will confirm the new uptrend.

The S&P 500 does not look as bullish as the NASDAQ. The index found support just below the 1490 area, but the last month and a half have carved out a possible double top formation. A clear break of the 50 day moving average and the 1510 horizontal resistance would imply an eventual move to the 1540 area. A break of today's low could possibly push the index to the 1440 area.

The Russell 2000 looks a little healthier. The index broke above its 50 day moving average today and is right underneath its resistance area at 840. A break of 845 should bring the index to resistance at all-time highs.

Today's move was extremely healthy and very necessary. The indices were beginning to break some important support levels, so a strong move higher was definitely needed. With today's outside day we can almost know for sure that the pullback has ended. The push higher should continue in the weeks ahead.