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Economic Calendar


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The momentum in stocks gains decelerated this week with the pre-pandemic highs hovering above large cap prices. The S&P 500 fell shy from producing new highs and slid from the weekly highs to finish the week. This week's action gets us inside the collective mind of the stock investor. With a few bumps here and there, the stock market has produced its fastest recovery out of a bear market in recorded history. But as we are about to make new highs and put the mess behind us, one thing still lingers: ...

The S&P 500 made another attempt to breakout over the February highs on Thursday, but the bulls came up a little short again as they may be running out of steam. However, the bears haven't done much with this double top opportunity they've been given. Something is going to have to give soon. The Dow lost 80-points while the Nasdaq, our S-fund, and the I-fund were the winners. Bonds tumbled for a 5th straight day.

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Originally Posted by coolhand

The market traded mixed on the day, with the S&P dipping modestly, while the DWCPF closed modestly higher.




Breadth dipped, but remains quite bullish.

Today's latest NAAIM sentiment reading remained bullish.

Steady as she goes. I remain bullish.

Originally Posted by coolhand

The bears hopes of turning the market hit a snag today as the bulls sent price(s) to fresh highs on this rally. Is it really a surprise given smart money is bullish?




Yesterday's pullback was simply that; a pullback. There is still no evidence that anything has changed. The charts are bullish, period. But I don't want to ignore potential resistance at the February peak, which is drawing closer.

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