Coolhand's Market Analysis

Originally Posted by coolhand

The bears tried to take the market back down early on in the trading day, but the bulls turned it back up to erase some of the losses.




The DWCPF actually closed marginally higher, while the S&P was thrown for a moderate loss. Still, no technical damage was done and price remains not far under the 200 dma.



Breadth held up well and remains modestly bullish.

NAAIM got a bit more bullish this week, but the overall reading is still neutral. The trend remains up and that's important. If price can clear the 200 dma, we could see another up-leg. That may take some time yet, but we'll see how it goes. I remain neutral.