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Coolhand's Market Analysis

The Battle Continues - Posted by Coolhand

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coolhand
, 09-24-2020 at 07:28 PM (692 Views)
Quote Originally Posted by coolhand View Post
We had a bit of a roller coaster ride today with the averages closing mixed by the close.

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The bulls were not able to recoup much, if any, losses today. We can see that the DWCPF dipped for a modest loss.

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Breadth was a bit weak and remains bearish.

NAAIM came in a bit more bearish today and I see the reading as bearish overall, but not by a lot. I see the reading as a prescription for more volatility for now, but with a downside bias (for now).

I remain bearish, but not overly so. I believe the bulls will put up a fight and will likely win the war, but whether a bottom is in is debatable. Watch the 200 dma.

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