Coolhand's Market Analysis

Originally Posted by coolhand

And just like that price is back to resistance, so the volatility remains.




Momentum may be starting to turn. Price certainly bounced hard, but volume was only so-so.



Cumulative breadth bounced back into positive territory. While it may be technically bullish again, it is still in a sideways pattern, so like the stock indexes, it has yet to break out again.

So, we still do not have confirmation of where this market wants to go in the short term. It is still a bull market and the pattern has been fresh highs sooner or later, so maybe that pattern will continue. In the meantime, I remain neutral.