Price Holding Steady - Posted by Coolhand

The market posted pretty decent gains last week, but it wasn't obvious early on how the week would go as the 200 dma was being attacked from the previous week. To this point, the bulls have so far defended that key average. Will it hold? Well, NAAIM came in pretty bullish and that's about as strong an indicator as I can point to. Keep in mind that the smart money does not have a crystal ball, but they do have contacts and info that we generally do not. That's part of what makes them smart money.

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Price is holding up fairly well since the 200 dma test. I don't think the bears are going to go away, but they are not in control. However, volatility may remain with us for a time.

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Breadth is still positive, but it is not marching higher at the moment.

TSP Talk sentiment came in bullish, which aligns with the bullish NAAIM reading.

I am bullish as we head into the new week.