View RSS Feed

Coolhand's Market Analysis

Bulls Get Pounded - Posted by Coolhand

Rate this Entry
Quote Originally Posted by coolhand View Post
The bears really took it to the bulls today. Neither a bullish smart money reading nor the wall of worry has kept this market from probing lower.

namor's Vegas Boxer Account Talk-s-p-500-png
namor's Vegas Boxer Account Talk-dwcpf-png

We'll, price on the S&P 500 is now approaching the September low. Will that act as support or do the bears have other ideas like testing the 200 dma? Price on the DWCPF closed below its 50 dma today. Volume was a bit elevated. Momentum is hard to the downside.

namor's Vegas Boxer Account Talk-nyad-png

Breadth is now about as bearish as it gets before a turn higher (in most cases, but not necessarily this time).

With the election still a few days away, I hope the bulls aren't waiting for the results. The Covid thing always ramps up to divert attention as key times too (like now). That's what happened in Florida a few weeks back when our Governor continued to open the state. Covid magically increased (immediately). It's a very smart virus that tracks closely with the political sphere. And then there's the battle over stimulus.

My point is that it is near impossible to predict this market under current circumstances. Just ask the smart money.

Speaking of smart money, NAAIM reports tomorrow. I am holding neutral till I see where they are at. Let's see if today's pounding shook any of the bulls among them.

Submit "Bulls Get Pounded - Posted by Coolhand" to Digg Submit "Bulls Get Pounded - Posted by Coolhand" to del.icio.us Submit "Bulls Get Pounded - Posted by Coolhand" to StumbleUpon Submit "Bulls Get Pounded - Posted by Coolhand" to Google

Categories
Uncategorized

Comments


S&P500 (C Fund) (delayed)

(Stockcharts.com Real-time)
DWCPF (S Fund) (delayed)

(Stockcharts.com Real-time)
EFA (I Fund) (delayed)

(Stockcharts.com Real-time)
BND (F Fund) (delayed)

(Stockcharts.com Real-time)

Yahoo Finance Realtime TSP Fund Tracking Index Quotes