Coolhand's Market Analysis

Originally Posted by coolhand

It was a relatively quiet day today with price staying in a somewhat limited range.




Price closed modestly lower on the S&P today and moderately higher on the DWCPF. Volume was lower than average, but not by a lot. Momentum continues to rise on both charts, but especially so on the S&P. So, the S&P remains decided bullish. I did not mention it yesterday, but don't forget the lower high on the DWCPF from about a month ago. I don't draw lines anymore, but you can visualize about where it runs. That's resistance and it's not far overhead.



Cumulative remains bullish.

So, nothing has changed. While the DWCPF is showing signs of life, until breaks out to the upside there is a chance the current attempt to rally higher will form another lower high. We may be close to that now. The S&P has no such problem and is hitting fresh all-time highs (recently).

I remain bullish on the S&P, but neutral on the DWCPF.