What do you think of the golden cross in the Dow a couple days ago? Surprised I haven't seen any chatter about it on the forums.
https://www.google.com/amp/s/www.mar...ls-11596740412
Sent from my Pixel 2 XL using Tapatalk
Printable View
What do you think of the golden cross in the Dow a couple days ago? Surprised I haven't seen any chatter about it on the forums.
https://www.google.com/amp/s/www.mar...ls-11596740412
Sent from my Pixel 2 XL using Tapatalk
The S&P has now risen 7 trading days in a row.
Attachment 46899
Attachment 46896
I've added a couple of months to the charts so we can keep an eye on the February peak. We can see that the market has actually closed in on that peak quickly in the past few trading sessions. So potential resistance looms; though I believe (at this time) that assuming price tests it, it will eventually push past that peak. We may only be days away or it could be somewhat longer.
Attachment 46898
Breadth hit another high and remains bullish.
No change in my sentiment. I'm still bullish.
After 7 consecutive "up" days for the S&P, the market finally pulled back. It was due.
Attachment 46916
Attachment 46915
A moderate pullback is obviously healthy for the market and does virtually nothing to hurt the technical indicators.
Breadth dipped a bit, but remains bullish.
Futures are up early this evening, so maybe the bulls bounce back tomorrow. In any event, I see no reason to pull in my horns, so I remain bullish.
The bears hopes of turning the market hit a snag today as the bulls sent price(s) to fresh highs on this rally. Is it really a surprise given smart money is bullish?
Attachment 46926
Attachment 46925
Yesterday's pullback was simply that; a pullback. There is still no evidence that anything has changed. The charts are bullish, period. But I don't want to ignore potential resistance at the February peak, which is drawing closer.
Attachment 46927
Nothing wrong with this chart either. It hit another high and remains solidly bullish.
Need I say what my sentiment is? :cool:
NAAIM reports tomorrow. See you then.
NAAIM came in a bit more bullish today. It's about as high a bullish reading as I've seen.
Coolhand, does this reading in any way say the market may be overbought? Or is that not what NAAIM measures.
Disregard, my question, I researched. Keep up the good work, enjoy your insights!
The market traded mixed on the day, with the S&P dipping modestly, while the DWCPF closed modestly higher.
Attachment 46934
Attachment 46933
Breadth dipped, but remains quite bullish.
Today's latest NAAIM sentiment reading remained bullish.
Steady as she goes. I remain bullish.
The bulls managed to close out the week (last week) with moderate gains.
Attachment 46940
Attachment 46939
The up-trend remains intact and the charts continue to look good, but potential resistance is not far overhead now.
Attachment 46941
Breadth remains bullish.
We saw that NAAIM came in quite bullish last Thursday. TSP Talk got more bullish in the latest survey, so we are aligned with the smart money.
Let's see if price can test resistance this week. I remain bullish.
The bulls began the week with more gains.
Attachment 46948
Attachment 46949
And both charts show price getting very near the February high. A test of that high could come any day now. Volume has fallen off the past few days, but that's normal in mid-August.
Breadth ticked higher and remains bullish.
I remain bullish.
While the market closed mixed on the day, the S&P 500 in particular added a modest gain.
Attachment 46956
Attachment 46955
Price is now testing resistance on the S&P from the February peak. Interestingly, there was no serious challenge from the bears as the February peak was tested. But the bulls didn't press either, so price pulled back from that peak just a bit. The DWCPF is close to testing its peak, but it isn't quite there yet.
Breadth remains bullish.
I feel pretty confident that price will eventually push pass resistance. Likely sooner rather than later, but we'll let the market tell us.
I remain bullish.