Coolhand's Market Analysis

Originally Posted by coolhand

The market had a mixed close today, with the S&P 500 pulling back modestly while the DWCPF tacked on more gains.




Price on the S&P 500 struggled today, but still closed not far off its previous high. Price on the DWCPF hit another all-time closing high. That chart looks particularly bullish. Today's rally did push the DWCPF into overbought territory as indicated by RSI. I don't consider that to be a big issue with this particular index in the short term.



Breadth ticked a bit higher today and remains bullish.

There does appear to be more stock rotation going on in the market. Historically, when small caps lead it's a bullish sign. But it's still too early to completely embrace that possibility. We could get a pullback at any time, but the trend obviously remains up.

I remain bullish.