The bulls bounced the market today, but the sellers came in later in the trading day and erased some of the gains.
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The charts still good from a bullish perspective.
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Breadth ticked higher and is back to a bullish stance, but not by a lot.
NAAIM saw a decrease in bullishness, but the bearishness also saw a small decrease. In essence, it looks like a few bulls and a few bears went neutral. This does not affect the overall bullish disposition of the market, but does indicate more choppy action ahead that slowly resolves higher. I don't think the market is ready for any launches to the upside, but there still appears to be a floor under it as well.
I remain bullish overall.
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- Thread starter coolhand
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