It didn't take long for the bulls to retake control of price. In fact, the S&P 500 hit a fresh high today.
S&P 500.png
DWCPF.png
There isn't much not to like about these charts if you're a bull.
The OEX is bearish again as we head into Friday's action. NAAIM came in more bullish. That pretty much tells me that the bulls don't have a lot to fear for the time being. TRINQ closed at a low level, which could be bearish for the Naz. TRIN was neutral. My intermediate term system is one signal away from flipping positive again. Breadth remains bullish.
I don't see any reason to take anything off the table, do you?
Bookmarks