Coolhand's Market Analysis

Originally Posted by coolhand

Today, the market gave us a mixed close, with the S&P advancing and the DWCPF pulling back. Neither were big moves.




So we can see that price pushed past resistance on the S&P, while it was rejected on the DWCPF. Momentum is still more or less flat on the S&P, but hinting at turning down on the DWCPF. I'd take it with a grain of salt right now.



Breadth ticked higher and remains bullish.

NAAIM came in a bit more bullish today. They are pretty bulled up overall. I always look higher on readings like this.

While the DWCPF continues to have its struggles, the bulls have at least pushed price near its all-time high. Today's rejection is likely a temporary set-back; at least that's how I am looking at it. With NAAIM still bulled up, I'm looking higher on both indexes, but will the S&P begin leading again?

I remain bullish.