Coolhand's Market Analysis

Originally Posted by coolhand

We got a choppy day today.




Price eked higher by the close. Momentum is flat. Price is also creeping toward the upper end of its current medium term range (past few weeks). Note that the 50 dma is getting very close to having a positive cross of the 200 dma on the S&P 500.



Breadth was flat, but remains bullish overall. Keep in mind that while it's technically bullish it's not tracking higher (like price).

NAAIM reports tomorrow.

So far, the bulls have kept the bears at bay. I remain bullish.