Coolhand's Market Analysis

Originally Posted by coolhand

The bulls did well last week, posting more than 3% gains in the C and S funds.




The 200 dma remains a battleground, but so far that average is supporting price on the S&P 500. I am not concerned about it failing with the smart money taking more bullish positions.



Breadth remains bullish.

TSP Talk sentiment came in bullish this

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Originally Posted by coolhand

Well, the bull party was going well til some trade news hit the wires, which triggered some selling that sent price below the neutral line. We'll have to see if it was just an initial knee-jerk reaction or not.

Attachment 46261
Attachment 46262

For the most part, the charts held up, though the DWCPF dipped back below the 200 dma. But the S&P did not and that is the more visible chart.

Attachment 46260

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Originally Posted by coolhand

Given the strength of Tuesday's rally, it probably shouldn't be a surprise that Wednesday saw more strength. Breadth and volume appeared to be indicating that the move was not transient.




We can see that price has now closed above the 200 dma on the S&P and is sitting on that key average on the DWCPF. Volume was a bit more robust than the previous session.

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Originally Posted by coolhand

Sooner or later it was almost certainly going to happen. The 200 dma got tested on the S&P 500 today.




Price closed largely on that key average at the end of the trading day. Price on the DWCPF closed just under its 200 dma. Momentum turned up. Volume was fairly robust. That's a plus for the bulls.



Looking at breadth, it soared. That's what

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Originally Posted by coolhand

All in all, the bulls had a pretty good week last week as price bounced all the way back to the upper end of the trading range, though higher highs were hit.




We can see that price on the S&P 500 is tracking sideways just under its 200 dma. Volume has fallen off. Price on the DWCPF is ebbing higher and closed for significant gains on the week.

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