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Originally Posted by coolhand

The bulls started the morning session with gains right out the gate, but then the market chopped around for an hour or so before choppy lower the rest of the day. The close was mixed once again with the S&P posting a modest gain, while the DWCPF posted a modest loss.




So far, this market is showing resilience even with the modest selling in the DWCPF. It feels rather toppy to me, however. Upward momentum

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Originally Posted by coolhand

The new week started out mixed as Monday saw the S&P rise modestly, while the DWCPF fell modestly.




Both charts remain bullish. But with a neutral to modestly bullish NAAIM is some selling still on tap? We got some in the DWPCF, but is there more? Futures are rather flat right now.



Breadth fell and that may be a tell for more selling, but I

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Originally Posted by coolhand

After a week of selling the week before last, the bulls got busy and sent price on the S&P and DWCPF to new all-time highs last week. In fact, the DWCPF is now up 5 days straight after finally breaking through a multi-month trading channel.




The charts speak for the themselves as price slashed through resistance to close out the week with solid gains. And the DWCPF led the S&P, which is what we want

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Originally Posted by coolhand

The chop was gone today as the bulls made it a one-way street as the averages closed out with solid gains on the day.




Price on the both charts broke through resistance and closed with fresh all-time highs. Momentum is rising as is strength, but it's too soon to get excited about the upside.



Cumulative breadth spiked to the upside and remains

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Originally Posted by coolhand

It was a rather choppy affair today that culminated in a mixed close. The biggest takeaway for me on today's action is that resistance remains an obstacle.




Not much to read into today's charts. Price is bumping up against resistance and so far it's holding. Momentum is rather neutral.



Cumulative breadth ebbed higher just a tad and remains bullish.

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