The S&P 500 and Nasdaq Composite have come down marginally from last week’s highs with the deepest pullback in the Russell 2000 and Mid-Cap (MDY). The MDY has pulled back to an ellipse buy zone, and from here, we would like to see a reversal up to confirm the buy. The pullback in the Dow Transports has been shallow, and the index is into a buy zone. As with other buy signals we are getting, we want to confirm reversal before committing new capital.