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Originally Posted by coolhand

The bulls posted some pretty good gains today. In fact, the DWCPF was up over 2%.




That index (DWCPF) saw price close just above its previous closing high by just a hair. The S&P is not far from its own high. But momentum is largely flat and that's why price seems to be moving in a sideways fashion.



Breadth posted a fresh high and remains bullish.

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Stocks were flat for most of the day on Tuesday, but late selling pushed the indices to their lows of the day at the close. The Dow lost 205-points and once again the Nasdaq was the high beta index as it doubled the loss of the the S&P 500. Small caps lagged the large caps and the I-fund may feel a little pressure after a rare positive day for the dollar yesterday.

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Originally Posted by coolhand

The way things are going, a fresh all-time high on the S&P may take till Christmas. Yes, we are biasing higher, but it's like watching the grass grow.




Price continues to test support at the June peak.

Breadth dipped, but remains bullish and we know that the smart money is bullish.

I'd like to see the bulls take more control, but the indicators still point higher.

Stocks opened flat to slightly lower on Monday but buyers stepped in quickly, setting a positive tone for the day, and the rally held into the close, fighting off a late morning pullback. The Dow gained 114-points, which was off the morning highs but the broader indices like the S&P, Nasdaq, and small caps, all closed strong and near their highs of the day.

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Originally Posted by coolhand

The bulls began the new week by erasing some of the losses from late last week.




So, price is trying to retake the June high again. Aside from the sometimes up/down nature of the market, the indicators continue to point to an overall bias to the upside. Breadth ticked higher today and remains bullish.

I remain bullish.