Out With the Old, In With the New - Posted by Coolhand

Last week saw somewhat of a reversal of fortune between the S&P and the DWCPF. For the week, the S&P was up more than 1%, while the DWCPF was down more than 1%. What do we make of that? I can't read much into it given that last week was the last trading week of year and the quarter. Now we start a new year and a new quarter.

Friday's action was modestly negative for both indexes, but the yearly gains were impressive; especially for the DWCPF, which was up more than 31%.

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Price on the S&P closed out the year at a fresh all-time high, while the price on the DWCPF is off of its all-time high, but that by all that much. Both charts remain bullish, but the S&P has an improved technical aspect. I can't read too much into that either so I'll have to wait to see how market character shapes up as we move through January.

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Cumulative breadth remains bullish as we head into the new year.

NAAIM is bullish (moderately) for the new week. TSP Talk came in neutral.

As January goes, so goes the year is an often quoted axiom among traders. I remain bullish as we head into the new trading year.