Moving Sideways - Posted by Coolhand

The market fell today, but price remains in a multi-day range over the past week. Coiling for a move higher?

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We can see from the charts that price has stalled. Volume has fallen off since earlier this week. Momentum is still rising, but weakening a bit.

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Breadth fell, but still remains bullish.

The latest NAAIM reading shows this smart money getting bulled up again. Whatever caused them to go neutral last week has apparently passed. One of the main takeaways was that they never showed much inclination to get bearish. It hasn't been easy to figure out this market, even for these money managers who were bullish a few weeks ago when the market took a dive. That was unusual, but it can happen. Generally speaking, I want to be aligned with them more often than not.

I am going from modestly bullish to simply bullish.