The week ended on a negative note Friday as the S&P and DWCPF both fell. However, the S&P 500 closed for the week with a moderate loss, while the DWCPF closed with a significant gain. Isn't that interesting.
Volume was much higher today. Momentum is falling on the S&P, but flat on the DWCPF. The 50 dma failed today on the S&P 500, but not the DWCPF.
Breadth fell and is now bearish again, but it remains in a range at the moment.
I said more than a week ago that I did not know how this was going to play out when the selling first began. I expected an up and down battle, which is what we got. Now, price has closed below the 50 dma on the S&P, which makes things a bit more dicey, but the DWCPF is in better shape, though it may eventually follow the S&P (or not).
Is it really a wonder why NAAIM is neutral to modestly bearish?
It's not going to be easy to figure this market out, which is why I'll be following NAAIM as closely as I do.
I remain neutral.