Coolhand's Market Analysis

A down close on a Monday? That's an unusual event, but the high volume activity carried over from last week. At this point, some consolidation is more than welcome and I still see no sign of this market turning down. Here's the charts:



NAMO and NYMO remain on a buy and near their 6 day EMA.



NAHL and NYHL are telling story of momentum. These are historic highs being posted and would seem to bode well for higher prices to come.



TRIN and TRINQ are both flashing sells, but are neutral overall.



BPCOMPQ continues its ascent and is pulling away from that upper bollinger band.

So we still have 5 of 7 signals on a buy with the charts remaining solidly bullish. Today's minor pullback is just that; a minor pullback. The market is probably waiting to hear from the FOMC on Wednesday, so daily trading may continue to be choppy till mid-week. That's it for today. See you tomorrow.