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Coolhand's Market Analysis

Anyone Still Doubting the Bull's Resolve? Posted by Coolhand

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Quote Originally Posted by coolhand View Post
After today's upside follow through of Tuesday big reversal (bottom), the odds just went up that fresh highs may be coming in the days ahead.

Spell Checker is Finally Working-spx-png
Spell Checker is Finally Working-dwcpf-png

Both charts show price poised to challenge previous all-time highs. Momentum looks like it may be getting ready to turn back up. Strength has certainly turned higher and volume was on the robust side. It sure looks like a bottom is in. Now price has to test overhead resistance.

Spell Checker is Finally Working-nyad-png

Cumulative breadth turned back and is looking more bullish after its sideways dance.

I think the bulls have retaken control. We'll get a fresh NAAIM reading tomorrow.

I remain bullish.

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