Another Green Light? Posted by Coolhand

The market was choppy again today, but this time it manged to remain on the positive side at the close.

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Price was up only marginally on the S&P today, but fared better on the DWCPF with almost a 0.5% gain. Momentum has gone flat on the S&P and the DWCPF, but both remain on the positive side. There is a toppy feel to this action, but this market has been very deceptive in the past.

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Breadth also looks toppy, but remains bullish.

The big news (always on Thursday), is that NAAIM got bulled up once again. We could still see some weakness in the short term given the toppy looking charts, but with the smart money as bulled up they are then any downside we get is likely going to be limited. I really looks like risk remains to the upside.

I remain bullish.