Coolhand's Market Analysis

Originally Posted by coolhand

The week has begun with an impressive rally in the S&P. The DWCPF moved higher as well, but the action was much less impressive.




Price on the DWCPF gapped fairly high at the open and was immediately met with significant selling pressure that took it back to neutral and even negative territory for a short while. The S&P was a much different story as price gapped at the open and rose higher for about 3 hours before going sideways; but it kept its gains. The S&P chart is certainly bullish at this point, but the DWCPF remains more questionable as to whether it will rejoin the S&P at fresh highs.



Cumulative breadth rose and remains bullish.

I am going from modestly bullish on the S&P to bullish, but will remain neutral on the DWCPF.