Coolhand's Market Analysis

Originally Posted by coolhand

Today's action changed little in terms of market character. In particular, small caps got hit early in the trading session and never recovered. The S&P also got hit early, but it bounced back to close near the neutral line.




On the S&P chart, we can see that price failed to push past resistance, but it didn't give up much ground either. Price on the DWCPF gave back all of Friday's gains and bit more. Support is not far below and I suspect price may test it again; maybe soon. Momentum is now rising on the S&P, but falling on the DWCPF.



Breadth dipped and is back to a neutral condition.

This week is the end of the quarter, which could mean some measure of volatility over the next day or 2. Just something to note.

I remain neutral overall and modestly bullish on the S&P, but that index needs to push through resistance or it could go the other way again.