coolhand's Account Talk

The market sure seems to be finding a way to end relatively flat of late. Sure, the short term has been down, but there is still no serious technical damage.

Breadth was neutral and actually ticked up a bit today. It might be modestly bullish. It sure isn't bearish.

The options are showing the OEX modestly bearish, while the CBOE is neutral.

There isn't much to go on in the very short term. The battle continues. The bulls are still in control even as the market has dipped.
 
The stock market ended the week with moderate losses, but maintained an overall bullish disposition in the intermediate term (no serious technical damage).

Breadth continues to track sideways. I see it as neutral to modesty bullish as a result. I note that TRINQ is bullish for Monday.

Sentiment shows that the OEX is bullish for Monday, while the CBOE is neutral. TSP Talk saw a marked decrease in bulls and is now neutral. NAAIM is moderately bullish.

The indicators appear to point to a bounce on Monday. The way the market is hanging in there leads me to anticipate an eventual upside breakout. That could be weeks away, but it may be sooner.
 
It was another up/down day; this time starting out bullish and then sliding lower as the trading day wore on. Not much movement in price overall.

Breadth remains bullish, but is tracking sideways (like price). The OEX and CBOE remain bullish. NAAIM came in relatively unchanged, which keeps them in the bullish camp.

The bulls remain in control and sentiment certainly supports that. I think the price action is bullish as well as I suspect it may be slowly coiling for another push to the upside. Let's hope that is the case.
 
We got more selling early today, but once more the bulls mounted some measure of a counter for a mixed close overall. There is no really technical damage to the charts to this point.

Both the OEX and CBOE are bullish this evening. Breadth remains bullish, but is now under pressure. NAAIM reports tomorrow.

The overall picture has not changed. The melt up is likely to continue.
 
The bears tried to get something going today, but it was not to be as the bulls held their ground. Feels like a "melt up" doesn't it?

Breadth remains bullish. The options are neutral. I have nothing compelling indicating the action for Wednesday, so I'm neutral to modestly bullish.
 
The market closed mixed today, with the S&P shedding a modest amount and the DWCPF rising modestly. This action continues to have a toppy feel to it.

Breadth, while still bullish, was flat. This evening, the OEX is bearish, while the CBOE is neutral.

We already know that NAAIM is at least modestly bullish, so any downside would seem limited. The OEX suggests it may be time for another dip. I would caution that there seems to be a lot for bad news out there right now (okay, more than usual), so we could melt up anyway. Futures are modestly positive as I write this.
 
Despite toppy action over the past few days, the bulls steadily clawed their way higher. Both the S&P and DWCPF have price above their respective 50 and 200 dma's. However, price on both charts remain below previous highs, so there is still resistance above.

Breadth, while bullish, looks toppy. But toppy can last for weeks. Other indicators are not stretched, so there is room for price to move higher still.

NAAIM did come in more bullish, but not all out bullish, so I am not sure if we'll see price power higher or simply melt up. I suspect the latter. The options are neutral. TSP Talk is quite bullish again. That doesn't mean as much as it used to.

The bulls remain in charge. Sentiment is neutral to modestly bullish overall. Breadth is bullish. Now we need to see if price can cut through what is left of resistance. For what it is worth, I suspect the market will eventually hit fresh highs.
 
Not much changed today as far the indicators and sentiment go. The S&P tacked on more gains, while the DWCPF remained flat. The options are neutral again, but NAAIM came in more bullish. Not as bullish as they were months ago, but they are not indicating anything serious as far as the downside goes. In other words, I think we continue to melt up, pullbacks notwithstanding.
 
Yesterday, I said the following:

"I've been giving the bulls the nod since they have breadth in their favor and no one is actually bearish. The neutral sentiment may actually be helping the bulls as many do not seem to have strong expectations either way. So the wall of worry does seem to be in play."

Indeed. Today's action was lopsided in the bulls favor. Price on the DWCPF shot well past resistance at the 50 dma. The market closed pretty much at their highs of the day. That's decidedly bullish. Breadth, which was already bullish, is looking even more so. It's possible this move has legs. Does the S&P 500 test its previous highs? It might. We'll have to see.

This evening, the OEX is bearish, while the CBOE is bullish. That's not much help as they offset. Having said that, a pullback makes sense after today's shot to the upside. And it would be healthy if we get it.

The bulls remain in charge. NAAIM reports tomorrow.
 
I'd like to thank DreamboatAnnie for posting the S&P 500 and DWCPF chart links in her account thread for me to access. It sure helps to have some navigation tools I'm familiar with. :smile:

The main thing about the charts I'd like to point out this evening, is that price on the DWCPF closed at its 50 dma. It did not make any serious attempt to push past it (yet), but at least it tagged that key average. We'll have to see if it can jump the creek now.

Cumulative breadth on the NYSE is still rising (bullish).

The OEX is neutral this evening as is the CBOE. No help there.

Not all that much has changed with today's action. I've been giving the bulls the nod since they have breadth in their favor and no one is actually bearish. The neutral sentiment may actually be helping the bulls as many do not seem to have strong expectations either way. So the wall of worry does seem to be in play.

I remain modestly bullish, but we need to see the DWCPF clear that 50 dma.
 
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