The Bulls Keep it Going

The bulls had a pretty good week last week as all 3 TSP stock funds closed with solid gains, but it was the C fund that tripled the gains of the S and I.

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We can see that price on the S&P is now testing its 50 dma. It is in a solid uptrend. The DWCPF closed at a high (on the current up-leg), but has yet to test its 50 dma. Momentum remains positive on both charts.

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Breadth flipped positive again on the NYSE.

Our TSP sentiment went bearish again, which is in alignment with NAAIM, which remained bearish with last Thursday's reading. They are not falling over themselves to short this market, so avoid taking this reading as more bearish than it is. The fact is, there is a lot happening in the financial system and I doubt many money managers are comfortable right now regardless of their sentiment. It just isn't business as usual.

I went modestly bullish late last week and remain modestly bullish right now. I really don't think that the bears can mount anything of significance to the downside at this time.