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Coolhand's Market Analysis

Mixed Close - Posted by Coolhand

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Quote Originally Posted by coolhand View Post
The bulls owned the morning session, but then the bears stepped in and took control in the afternoon. All in all the close was kinda neutral (mixed).

7 Oct 04 Worse Day of the Year - Market Timer Back-spx-png
7 Oct 04 Worse Day of the Year - Market Timer Back-dwcpf-png

Price didn't move far off the neutral line today. I do note that price on the DWCPF, which was moving higher fairly well in the morning session, fell apart in the afternoon. That does not bode well for small caps as price was rejected near the trend line from the 2 previous peaks.

7 Oct 04 Worse Day of the Year - Market Timer Back-nyad-png

Breadth ticked higher and broke out of its sideways dance, but then again it's not exactly off to the races. It's still a bullish signal.

NAAIM reports tomorrow.

I remain bullish on the S&P and neutral on the DWCPF.

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SPY (C Fund) (delayed)

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BND (F Fund) (delayed)

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