The bulls notched a win today, but it didn't clear up the fog around this market.
View attachment 48816
View attachment 48817
Price on the S&P attempted an upside break through resistance, but got pushed back for a modest gain overall. Price on the DWCPF came very close to testing resistance at its 50 dma. It closed for a decent gain on the day. Momentum and strength are not inspiring on either chart.
View attachment 48818
Cumulative breadth ticked higher and the signal is technically bullish, but like price, it's not inspiring.
NAAIM's neutral stance (as well as our own) would seem consistent to this point with market action as the market gets ready to head into Thursday. We'll get a fresh NAAIM reading around mid-day.
I remain neutral overall and modestly bullish on the S&P.
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Or you can now use TapaTalk again!Resistance Holds - Posted by Coolhand
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