Monday's positive action seemed to suggest a bigger move may be near. Tuesday's rally confirmed it.
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Price on the S&P 500 surged upward and almost tested the 50 dma. Price on the DWCPF blew past and closed sell above its 50 dma. Volume was only average. Momentum is starting to turn back up.
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Breadth on the NYSE surged to the upside and flipped bullish in the process.
We may be seeing the early stages of a solid rally. I am not sure if it will be challenged by the bears or not. I also suspect the bears could get overwhelmed (smart money is bullish), but for how long? Let's see how the rest of this week unfolds.
I remain bullish.
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Or you can now use TapaTalk again!Rally in Progress? Posted by Coolhand
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