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Thread: coolhand's Account Talk

  1. #6769

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    Default Re: coolhand's Account Talk

    The selling continued today, but it still isn't putting a serious dent in the bullish slant of this market.

    S&P 500.png
    DWCPF.png

    Volume has been a bit elevated the past couple of trading day (just something to note). Momentum continued to fall. Aside from the shorter term indicators, price remains well above all the key support areas.

    The options are leaning bullish for Friday as the CBOE is leaning heavily bearish. NAAIM came in bullish once more. Still no alarm from those smart traders. My intermediate term system is still bullish, but not far from flipping negative. Breadth is also bullish, but it too is near flipping to a negative posture. This could all mean we aren't far from another shot to the upside. Let's see how it plays out.

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  3. #6770

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    Default Re: coolhand's Account Talk

    So, last week was a tough week for the bulls as the bears managed to erase some earlier gains. But that's just the short term, and the selling has so far not done any serious damage to price.

    S&P 500.png
    DWCPF.png

    Momentum is still falling, but price remains above the key support lines.

    The options remain on the bullish side heading into Monday. NAAIM remains bullish. My intermediate term remains positive, but under attack. Breadth flipped negative on Friday, but for some time now that has typically meant a turn is near.

    If market character holds, I would expect a bounce at the least for the new week. Perhaps, even a fresh up-leg.

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  5. #6771

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    Default Re: coolhand's Account Talk

    We got the bounce on Monday, but the bulls couldn't drive price all that far.

    S&P 500.png
    DWCPF.png

    We may be turning back up at this point. Momentum got buried, so that would support more upside.

    The options are neutral this evening. Breadth is neutral (from negative). Intermediate term system remains positive.

    I continue to look for more upside as the week plays out. The action is uninspiring, however.

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  7. #6772

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    Default Re: coolhand's Account Talk

    Not much change today. We bounced a bit, but it wasn't particularly meaningful.

    The options remain neutral. Breadth is neutral. I see no clear path in the very short term. Wednesday may be choppy as a result.

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  9. #6773

    Default Re: coolhand's Account Talk

    Choppy sure describes this mornings action. Lilly pad would sure be better with an old fashioned in hand...

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  11. #6774

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    Default Re: coolhand's Account Talk

    Not much change again. Price was up and down as expected.

    S&P 500.png
    DWCPF.png

    Still no damage to price either. Technically, the charts continue to look just fine (if you're a bull).

    The options look bearish to neutral this evening. Breadth flipped positive, but not by much. I still don't see a clear direction in the short term.

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  13. #6775

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    Default Re: coolhand's Account Talk

    The market found its feet today as prices generally moved higher.

    S&P 500.png
    DWCPF.png

    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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  15. #6776

    Default Re: coolhand's Account Talk

    Quote Originally Posted by coolhand View Post
    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.
    I appreciate your posts.

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  17. #6777

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    Default Re: coolhand's Account Talk

    The bulls had a good week last week.

    S&P 500.png
    DWCPF.png

    Price is very close to its highs on both charts. Momentum is rising. It sure looks like a test of the highs is coming.

    The options are neutral for Monday. NAAIM remains bullish. TSP Talk is darn bullish. The short term looks neutral to bearish on this sentiment, but overall I am leaning bullish given that's how NAAIM is leaning.

    Breadth is positive. My intermediate term system is still negative, despite the recent rally.

    I think new highs are on tap and likely will be hit this week.


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  19. #6778

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    Default Re: coolhand's Account Talk

    As anticipated, Monday was a down day. Small caps were hit especially hard.

    S&P 500.png
    DWCPF.png

    All of the gains in the DWCPF's previous rally were wiped out. The S&P 500 held up much better.

    Momentum has turned down. Breadth has gone from positive to neutral. The options are leaning bearish for Tuesday.

    We may get some downside follow through, but a snap back rally can manifest quickly. Let's see how it plays out.

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  21. #6779

    Default Re: coolhand's Account Talk

    Thanks for the updates Cool! Your posts are one of the first things I read on the site. I am out for now and working on the hardest call of all. i.e. when to get back in. Usually get out in time cause I'm always scared but that makes it hard to get back in! Ha! Thanks again for sharing your knowledge!

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SPY (C Fund) (delayed)
coolhand's Account Talk
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DWCPF (S Fund) (delayed)
coolhand's Account Talk
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coolhand's Account Talk
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