Coolhand's Market Analysis
The Bulls Push Back
by , 05-14-2020 at 05:34 PM (596 Views)
Originally Posted by coolhand
The bears tried to press their downside pressure, but the bulls finally stepped in and drove price back into positive territory.
The 50 dma did not get tested, but close may be enough. I suspect a bottom is in for the moment, but the battle is likely to continue over the days ahead.
Breadth remains negative.
NAAIM came in neutral, which I think bodes for continued back and forth action. They are neither bullish or bearish, so I am not looking for major moves in either direction at this time.
I think the bulls may apply more upside pressure in the short term, but I am now leaning neutral overall.
Go to Profile
Mark as Read
