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Coolhand's Market Analysis

Still Waiting for a Test

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Quote Originally Posted by coolhand View Post
After 3 positive days, the market stepped back on Tuesday. That's normal action. However, the 200 dma looms very near on the S&P 500 and that's a potential resistance area.

YIELD CURVE-s-p-500-png
YIELD CURVE-dwcpf-png

Not much change to the charts. We remain in somewhat of a sideways pattern right now with price sitting in the upper end of the range.

YIELD CURVE-nyad-png

Breadth remains positive, but is close to neutral.

My outlook remains the same. I am neutral with the smart money. The market needs to show us it can vault past that 200 dma (for more than a couple days).

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