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Originally Posted by coolhand

The bulls notched a win today, but it didn't clear up the fog around this market.




Price on the S&P attempted an upside break through resistance, but got pushed back for a modest gain overall. Price on the DWCPF came very close to testing resistance at its 50 dma. It closed for a decent gain on the day. Momentum and strength are not inspiring on either chart.

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It was a very sluggish day for stocks on Tuesday, but as we have seen often in recent weeks, one or two indices buck the trend and outperform. Yesterday was the small caps turn to take the ball and run. On a day that saw the Dow fall 104-points, and the Nasdaq and S&P close also close with modest losses, the small caps bounced back from their awful day on Monday. The dollar was up, as were yields, and the Transports made new highs.

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