Coolhand's Market Analysis
Large Caps Remain Favored - Posted by Coolhand
by , 04-07-2021 at 04:48 PM (638 Views)
Originally Posted by coolhand
The general trend continued today as the S&P rose modestly while the DWCPF was thrown for a moderate loss.
Price on the S&P has traded not far North of 4080 for 3 days now, so there does seem to be some resistance in this area. It may be near time for a pullback in this index. Price on the DWCPF may have peaked for another lower higher, but price also closed on the 50 dma, which may (or may not) provide support. We'll have to see, but I am not particularly optimistic about it holding.
Breadth dipped, but remains bullish.
NAAIM reports tomorrow. I remain bullish on the S&P and neutral on the DWCPF.
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