Bulls Back in Charge - Posted by Coolhand

I suppose we got our confirmation today as to what the market's intent was. Fresh closing all-time highs on the S&P and DWCPF both.

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Momentum is rising. There is a chance that the breakout is a head fake, but that would be a hard sell in this bull market (no pun intended).

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Cumulative breadth is rising quickly and remains bullish.

NAAIM came in a bit less bullish today with an overall reading of what I would call modestly bullish. That's just north of neutral. They are generally not shorting very much (financial suicide), but they are not nearly as bullish as they've been, which tells me that some of these money managers are harboring some reservations. Still, they are bullish overall.

I am shifting modestly bullish myself (from neutral), but as you've heard me say a number of times in the past, I am not complacent. Take the gains while they are offering them, but don't get married to your position. This is not a normal market.