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Coolhand's Market Analysis

And Then Wednesday Happened - Posted by Coolhand

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Quote Originally Posted by coolhand View Post
Yesterday, the indicators were suggesting that a bottom may not be in. I didn't expect serious selling, just enough selling to flip other signals to bearish before turning back up. But Wednesday's rally turned everything right back up.

Poll - How to Handle a Disruptive Member-spx-png
Poll - How to Handle a Disruptive Member-dwcpf-png

Price on the S&P retraced more than half of the previous 2 days of losses. Price on the DWCPF pushed back above support at the 50 dma and closed their as well. It still has a lot to prove, however, given it's trading in a range.

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Breadth turned back up smartly and remains bullish.

Today's action was decidedly bullish. I'm still more comfortable with the S&P vice the DWCPF as far as price advancing, but we'll see how things play out for another day or two. NAAIM reports tomorrow.

I remain neutral, but if the market follows through on today's rally and NAAIM remains bullish, I'll probably get bullish as well. Let's see what happens.

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SPY (C Fund) (delayed)

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DWCPF (S Fund) (delayed)

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EFA (I Fund) (delayed)

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BND (F Fund) (delayed)

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