The Bulls Still Have Control

The market closed lower overall last week. I consider the weakness to be part of the climb higher. We need consolidation here and there to keep it going (historically).

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Price on the S&P 500 closed above its 50 dma. There is plenty of resistance to get to the next big hurdle, which is the 200 dma, but first we need to see price remain above the 50. The DWCPF closed almost neutral for the week. Momentum remains flat to modestly positive.

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Breadth flipped bullish again, but it's still moving sideways overall.

I said on Thursday that NAAIM went from bearish to a neutral reading. No slam dunks on the upside with this reading, but it's a good sign for the bulls just the same. TSP also went from bearish to neutral.

I am neutral to modestly bullish. There does seem to be a floor under this market even as price is struggling to go higher (in the overall market).