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Originally Posted by coolhand

While the market closed mixed on the day, the S&P 500 in particular added a modest gain.




Price is now testing resistance on the S&P from the February peak. Interestingly, there was no serious challenge from the bears as the February peak was tested. But the bulls didn't press either, so price pulled back from that peak just a bit. The DWCPF is close to testing its peak, but it isn't quite there yet.

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The Dow was down 86-points, but you'd have to look pretty hard to find anything else that was down yesterday. S&P and Nasdaq - up. Small caps and I-fund - up. Bonds - up. Gold, silver, copper - up. Oil, lumber, bitcoin - up, up, up. One of the main reasons everything was up was because one key drivers was down hard -- the dollar. No closing highs for the S&P 500 yet, but the Nasdaq did make another new high.

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Originally Posted by coolhand

The bulls began the week with more gains.




And both charts show price getting very near the February high. A test of that high could come any day now. Volume has fallen off the past few days, but that's normal in mid-August.

Breadth ticked higher and remains bullish.

I remain bullish.

It was a slow summer Friday for stocks as trading volume was down and the indices were fairly flat, trading in a narrow range. The Dow rallied late to push into positive territory while the S&P 500 came up just short. The S&P 500 also continues to come up short in pursuit of making a new high, but the bears have failed to do anything about it as the index hangs just under that February high.

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Originally Posted by coolhand

The bulls managed to close out the week (last week) with moderate gains.




The up-trend remains intact and the charts continue to look good, but potential resistance is not far overhead now.



Breadth remains bullish.

We saw that NAAIM came in quite bullish last Thursday. TSP Talk got more bullish in the latest survey, so we are aligned

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