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Originally Posted by coolhand

The market was doing well until about mid-day when price weakness began and then continued into close, picking up some steam on the way down. I cautioned yesterday that while I was bullish the market could pullback at any time. So we got a pullback today, but it remains to be seen if there's more downside in store in the short term.




The S&P 500 lost more than 1% and fell back to its recent short-term

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Stocks opened lower on Tuesday, but battled back most of the day to close off those morning lows. The Dow lost 167-points, small caps led with an impressive gain, and bonds also rallied. The early weakness did serve a purpose in that the open gap created on the S&P 500 chart on Monday was filled before we saw the in indices stabilize and move higher into the afternoon. We did see some fading late so the spinning top candlesticks does show some uncertainty out there.

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Originally Posted by coolhand

The market had a mixed close today, with the S&P 500 pulling back modestly while the DWCPF tacked on more gains.




Price on the S&P 500 struggled today, but still closed not far off its previous high. Price on the DWCPF hit another all-time closing high. That chart looks particularly bullish. Today's rally did push the DWCPF into overbought territory as indicated by RSI. I don't consider that to be a big

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It was another ramp up Monday, but unlike last week, stocks held onto their gains into the close, and now many indices are at or near those prior highs. A midday afternoon swoon was bought by the bulls and the Dow ended the day with another big triple digit gain of 471-points. Another promising vaccine headline, this one from Moderna, helped the week get off to a good start.

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Originally Posted by coolhand

Today's positive action produced fresh closing highs on both the S&P 500 and DWCPF. It's getting real for the bulls. The up-leg may be in progress (maybe).




Both charts got more bullish today. Momentum is still rising. The DWCPF is near overbought territory (RSI). I would not get overly concerned with "overbought" just yet. The market may be just beginning to breakout after a short period of volatility.

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