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Coolhand's Market Analysis

The Bulls Push Price Above a Key Average - Posted by Coolhand

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Quote Originally Posted by coolhand View Post
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.

namor's Vegas Boxer Account Talk-s-p-500-png
namor's Vegas Boxer Account Talk-dwcpf-png

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.

namor's Vegas Boxer Account Talk-nyad-png

Breadth soared again and is making a compelling bullish statement.

NAAIM reports tomorrow. That is always a key element of my analysis. I always want to know what the smart money is doing. We'll know very shortly.

I remain neutral to modestly bullish, but could change my position on the NAAIM reading.

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