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The market picked up where it left off as the averages continued their upward bias.

NYAD.png

How vertical is the signal going to get for cumulative breadth? The 21 day EMA has not had a negative cross of the 39 day EMA in recent months.

TRIN and TRINQ are biasing lower in recent weeks, which is bullish.

As crazy as this market is, the upside has the potential to go a lot higher despite the risks.

I remain bullish.
 
On Friday, the market closed mixed, but we did have a positive week. The S&P fared better than the DWCPF as the DWCPF was flat overall.

At the close on Friday, the CBOE settled on the bearish side. TRIN was bearish, but the TRINQ was neutral. These readings only apply to Monday.

Cumulative breadth dipped for the first time in more than 3 weeks.

It could be that we are seeing some subtle profit taking as the year winds down. I don't think any profit taking will significantly alter market character. With continuing market cash injections, I suspect the market will remain quite resistant to negative pressure. I say this in large part because the smart money (NAAIM) is heavily bullish.

For this reason, I remain bullish as well.
 
End-of-year trading continued to see selling pressure with one day to go before the New Year. It is not unusual at all and is healthy in order to set up the next move higher. I don't see cash injections stopping anytime soon. That is almost certain to force prices higher over time.

NYAD.png

We can see that breadth is pulling back, but remains bullish.

The CBOE is bearish again this evening.

I suspect the selling will continue on Tuesday, but I do not anticipate it will be of any real consequence. The trend remains solidly bullish.
 
coolhand said:
How beautiful is this Christmas production? Hail to our King!!! Peace be with you all. :smile:


Click to expand...

Ahh Peter Hollens. Been a fan of his for sometime now. He has done a number of songs from "The Hobbit and Lord of the Rings" movies. Such a great talent.

Thanks for posting this coolhand. Have a Happy New Year!!!:D
 
Happy New Year Everyone! May the New Year will be healthy and prosperous for you all.

The market closed out the year on a positive note, with the averages retracing a good portion of recent losses.

NYAD.png

The charts do not suggest anything will change as far as market character goes. We can see that cumulative breadth hit a fresh high on Tuesday after dipping for 2 straight days. This chart remains solidly bullish (of course).

The CBOE is neutral. TRIN and TRINQ are leaning bullish for Thursday. We know that NAAIM is heavily bulled up, but a fresh survey is due on Thursday. I seriously doubt we see much change, but we'll know soon enough.

I see no reason to fear the technical picture as it remains firmly bullish.
 
Thank you Coolhand. Busy in the world week for me, but though I rarely share on Facebook this was too good not to share.
I love our LORD Jesus Christ, and trust in his wisdom and love which will lead our salvation and his greater union.


Thanks again!
 
The NAAIM reading for today (the next week) shows a modest amount of bears this time, but does little to change the overall reading,which is bullish. Most of these money managers remained long.
 
It didn't take long to put those 2 weak trading days in the rear view mirror. The S&P closed at yet another all-time high today. The DWCPF is testing its previous high now, but has yet to push through it. No doubt it will, however.

The CBOE is leaning bullish this evening. TRINQ is bullish, while TRIN is neutral. NAAIM remains solidly bullish, though they had a few bears among them this week.

Amazing what money printing can do for a market. Some analysts think the upside will get much crazier down the road. I suspect they may be right.
 
The market is supposedly having a negative reaction to the Iranian situation currently in the news. I don't think this is going to have a lasting effect. It is almost certainly a buying opportunity, though I have no idea where a bottom is. It could just be a 1 day thing. We'll have to see.
 
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Friday's action saw the market turn back down again as market participants reacted to geopolitical events.

The charts remain bullish nonetheless. It will take significant selling pressure to shift the upside trend, which I don't think is likely. Not when the CB is being forced to monetize debt and keep their banks afloat.

The CBOE is leaning bullish for Monday. TRINQ remains bullish. Cumulative breadth dipped, but remains bullish.

We'll have to see how geopolitical events unfold and the degree of influence it exerts on the markets moving forward. It would not be out of character for the market to turn higher on perceived bad news, so be careful not to assume the market will react to bad news in a logical way. As we begin 2020, expect significant events to line up one after the other as we head toward the November elections. All the stops have been pulled politically and it is do or die for many. I only bring this up because there is risk, but that risk could be to the upside as well as the downside.

I remain bullish.
 
Today, we saw the market start out weak, but reversed almost immediately. That reversal biased higher the rest of the day with price closing near its high of the day on the S&P.

So, we can see the resilience of this market remains intact. The closing price still fell short of last week's high, but it would not take much more upside to test it. I am of the opinion that higher prices are very likely.

Cumulative breadth on the NYSE rose today and hit another high. TRIN and TRINQ are neutral.

Today's reversal has me thinking a bottom may be in, but we'll let the market to the speaking. In any event, I remain bullish.
 
Thanks coolhand, btw really appreciate the x22 video recommendation... learning a lot. 73!

Sent from my Pixel 2 XL using Tapatalk
 
The far right q stuff and Trump patriot stuff has nothing to do with the gospel of Jesus Christ summarized in John 3:16 "For God so loved the world that He gave His only begotten Son so that whosover believes in Him should not perish but have eternal life." The gospel is about Jesus not far right or far left or far out political nonsensical personality cult worship. I see nothing in the bible about yoking yourself to a political cult personality or political cult theory.
 
Happy_Trails said:
The far right q stuff and Trump patriot stuff has nothing to do with the gospel of Jesus Christ summarized in John 3:16 "For God so loved the world that He gave His only begotten Son so that whosover believes in Him should not perish but have eternal life." The gospel is about Jesus not far right or far left or far out political nonsensical personality cult worship. I see nothing in the bible about yoking yourself to a political cult personality or political cult theory.
Click to expand...


You need to take in the whole counsel of God and not just select passages. I am neither right nor left. I am a follower of Jesus Christ. We are all being fed lies and have been since we were born. Seek the truth in all things.
 
The whole council of God can be found in the bible. I have no need to seek out the council of a q anon website for truth. John 8:31-32: So Jesus was saying to those Jews who had believed Him, "If you continue in My word, then you are truly disciples of mine; and you will know the truth, and the truth will make you free."
 
There has been a war raging on this planet for millennia. That war continues to this day. Satan is the ruler of this world. But God is in control of all things, even on the planet Earth. If Satan is and has been seeking to destroy God's creation, then it should be recognized that God is not sitting back as a spectator. He intervenes when he chooses and uses whom he will for his purposes. The Old Testament has plenty of examples of this.
 
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