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Coolhand's Market Analysis

Market Snaps Back - Posted by Coolhand

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coolhand
, 07-08-2020 at 04:25 PM (438 Views)
Quote Originally Posted by coolhand View Post
The bears could not keep it going after yesterday's moderate sell-off as the bulls got back about half of Tuesday's losses.

Attachment 46624
Attachment 46622

There isn't much to say about the charts. Price continues to meander up and down, though it does seem to be biased higher at a very slow rate. Resistance is not far above. The 50 dma continues to rise and is about even with the 200 dma on the S&P.

Breadth ticked higher and remains bullish, but continues to track in a sideways fashion.

NAAIM reports tomorrow, so we'll get a fresh read from the smart money. I remain bullish.

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