Originally Posted by
coolhand
The market found its feet today as prices generally moved higher.
Looking at the S&P 500, we see that price is not far from its highs. Even the DWCPF isn't that far from its highs. Momentum is turning up, which increases the odds of a retest of those highs.
The options closed solidly bearish for Friday. On the other hand, NAAIM came in a bit more bullish. They are still not seeing any serious threats to price. Breadth is rising (slowly) and is positive.
So, the bull market remains intact with a test of the highs likely. However, the options suggest we may give something back on Friday so that test may wait until next week.
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