We got a choppy trading day today with the S&P 500 closing for a gain, while the DWCPF closed with a small loss.
S&P 500.png
DWCPF.png
This evening, the CBOE is bullish again. TRIN is neutral and TRINQ is bullish. Breadth remains bullish.
NAAIM gave us an interesting reading today. The bulls got a bit less bullish, while the bears among them remained short. This is a neutral reading, so my take is that the market is not yet ready for a run to the upside (maybe a melt up at this point). I suspect we may see more back and forth action for a few days. The other indicators suggest some upside for Friday.
I remain bullish.
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