Coolhand's Market Analysis

Originally Posted by coolhand

The bulls followed up yesterday's right hook with an upper cut today, but the bears didn't quite go down. They were heavily staggered though with a trickle of blood oozing down the left side of the nose. The referee had to step in and check to see if the bears could go on, but then the bell rang and the trading session ended.




Price on the S&P bumped up against resistance at the June peak again, and while it didn't break it, it closed pretty much right on it. The DWCPF is close behind.



Breadth is rising and is now looking decidedly bullish to my eye.

What I am seeing has me thinking an upside breakout may be coming very soon. It might even be imminent. And tomorrow we'll get a fresh NAAIM read.

The bears are wounded and battered. Can they stop the bulls? I'm thinking not, but we'll know soon enough. I remain bullish.