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Coolhand's Market Analysis

Resistance Continues to Hold - Posted by Coolhand

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Quote Originally Posted by coolhand View Post
Still no lift-off in stocks, but the S&P did hit a fresh all-time, intraday high. It's sitting at or very near its all-time at the close. Resistance seems a bit stubborn, but the smart money is largely long, so it would seem just a matter of time before stocks begin another up-leg.

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Poll - How to Handle a Disruptive Member-dwcpf-png

Nothing remarkable about today's trading activity. Both charts are struggling with resistance right now. Can the DWCPF push through it?

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Cumulative breadth ticked higher and remains bullish.

NAAIM came in a tad lower, but remains bullish for the most part. They are leveraged long, but not overly so. There is still some degree of caution even while they are bullish.

Given the bullish stance by NAAIM, I will remain bullish on the S&P and neutral to modestly bullish on a the DWCPF. It doesn't hurt that breadth remains bullish either.

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BND (F Fund) (delayed)

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