Coolhand's Market Analysis

Originally Posted by coolhand

The bulls managed to continue the upside move that began on Monday, though a good portion of the gains were erased in late day trading. That doesn't mean all that much in and of itself. What we are likely seeing is what we've seen previously, which is an overall move to the upside over a period of days.




On this particular upside swing, we need to see price hit a higher high. A higher high would coincide with a test of the 200 dma. I think it's a reasonable expectation right now. I'd like to see momentum turn back up, which it should if we get that test.



Breadth ticked up a bit and remains bullish.

My sentiment is still bullish, just like NAAIM.