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Coolhand's Market Analysis

Another Up-Leg May Have Begun

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Quote Originally Posted by coolhand View Post
It didn't take long since the neutral NAAIM reading for the market to break higher. That was the most likely outcome, though the timing is not easy to discern.

Lower highs - lower lows-s-p-500-png
Lower highs - lower lows-dwcpf-png

The next up-leg may have started. We can see that price moved further away from the 50 dma on the S&P 500, while price on the DWCPF closed above that level for the first time in about 2 months. Momentum is beginning to turn back up.

Lower highs - lower lows-nyad-png

Breadth is bullish and should continue to move higher as long as price is the doing the same.

I remain neutral to modestly bullish.

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