The bulls are having a great week this week and Thursday saw the rally continue.
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Price on the DWCPF is starting to stretch to the upside. The S&P 500 has a lot of catching up to day, but at least it's heading in the right direction. Momentum is rising. The DWCPF is getting close to being overbought.
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Breadth is looking very bullish and often when it gets this stretched it's usually time for a pullback, but that could still be days away (or not).
NAAIM went from modestly bearish last week to modestly bullish today. That's a good sign and is suggestive of more gains down the road.
As I mentioned above, a pullback could come soon, but with the DWCPF hitting all-time highs and breadth stretching to the upside a pullback may only be a reload for the bulls.
I remain bullish.
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