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Originally Posted by coolhand

The bulls are knocking on the door of a potential upside breakout.




We can see that price on both charts are close to the June peak, which is resistance.



Breadth looks much the same, with the signal near the June peak.

The TSP Talk sentiment came in bullish again. NAAIM is also bullish and that's the one that counts in my book.

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Stock indices stretched higher to or near the June highs this week as earnings season kicks off. A significant reversal Monday after a strong open seemed to be the beginning of the end of stocks rally to the highs but again we saw the bears falter and the bulls prevail. Index prices were back trading around the highs by Wednesday and from there the price range tightened up for the rest of the week. Bank earnings debuted this week and the numbers were surprisingly positive for the most part. Fiscal ...

Stocks pulled back on Thursday as the churning just below recent highs continued. The Nasdaq was the biggest loser as there seems to be a move out of large tech and into value stocks, but even it rallied back strongly from its lowest levels yesterday. The Dow broke a 4-day winning streak with a loss of 135-points. Bonds continued to grind higher.

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Originally Posted by coolhand

The upside breakout remained elusive today as stocks pulled back a bit.




Looking at the charts we can see that price remains not far off the June peak. Volume was lower than usual. It's like the market is waiting for something. Some bit of news before popping higher.

Breadth dipped modestly, but remains bullish.

NAAIM came in a bit more bullish. You won't find many bears

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