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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.

Stocks followed through on Thursday's negative reversal with another down day again on Friday. The Dow lost 182-points but more interesting is that the Nasdaq had its first 2-day losing streak since mid-May, or 49 days. Small caps got beaten up pretty good after holding up rather well during Thursday's decline. Bonds were down on Friday after 8 consecutive positive days for the BND bond ETF, and 15 of the last 18 trading days.

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Calendar Source: https://www.marketwatch.com/economy-politics/calendar

-- Intrepid Timer


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Originally Posted by coolhand

The week started off well enough as the market began to add to gains from the previous week, but the bears sent the market lower at the end of the week. The S&P and DWCPF both closed out with a modest weekly loss overall.




Still, the charts remain bullish. No market goes straight up and we do have a bias higher over the intermediate to longer term.

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A slight net loss ends a three week winning streak for stocks but also hides intra-week drama that divided the week between the bulls and the bears. The bulls had the week out of the gate and the S&P 500 was up more than 1% for the week by Tuesday. In the process stock indices passed the highs established early June. The gains were claimed to be unjustified by analysts that pointed to the top companies carrying the entire market. That became clear Thursday when a sell the news reaction to Microsoft's ...