The C and S funds tacked on impressive weekly gains yet again last week. The I fund was largely flat.
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Price on the S&P 500 pulled back just a bit on Friday. RSI remains overbought, while momentum stalled.
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The DWCPF also dipped on Friday. RSI remains overbought here as well.
Sentiment is fairly bullish. NAAIM certainly remained bullish as they have for months now. The options are on the neutral side. TSP Talk came in heavily beared up and that might be a problem for the bulls, but in this market I'd not bet big on it. Cumulative breadth dipped on Friday, but remains solidly bullish. My intermediate term system remains bullish, but is showing possible signs of upside fatigue and there's an outside chance it's beginning to hint at a pullback of more than modest proportion on the horizon. With the bearish TSP Talk sentiment and early weakening of my intermediate term system, the market may be nearing a bout of downside pressure. Still, the indicators overall are too bullish as yet to take that very seriously.
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