Yesterday's market action was negative.

The indexes acted out of character to how they have recently been acting. Yesterday they acted decidedly bearish. The Nasdaq Composite poked its head above the 3000 level for the first time since the year 2000, however the celebrations were short lived.

Yesterday’s market action was positive.

The Nasdaq Composite made another new high and this time it was accompanied by above average trading volume. When an index makes new highs on above average trade it means there is institutional demand for stocks at these levels.

Yesterday’s market action was positive.

At the open the indexes dropped. However a bullish reversal helped the indexes end the day well off their lows.

Yesterday's market action was neutral.

The market indexes closed mixed, but even though the Nasdaq did pullback during the session we did see some buying as it approached the closing bell, giving it a tight close. The S&P 600 ended the day in the red and with volume coming in around average gives us a day of professional distribution.