The market gave us a choppy trading session on Tuesday. There were no big moves in either direction and the indexes closed not far from their neutral lines.
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Price on the S&P does seem to be hitting resistance in the high 4180s. The DWCPF is also hitting resistance (near 2250). Is it near time for another dip? RSI is flat on both charts. Momentum is biased slightly lower on the S&P, but is still rising on the DWCPF.
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Breadth dipped modestly and remains bullish.
I can't read much into today's action, but the market feels like its running out of steam. We may see some weakness soon prior to another possible push to the upside, but that's just a possibility. Since NAAIM was bullish, I suspect the market will get on track to the upside again at some point.
I remain bullish for now, but watching resistance levels on both charts.
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Toppy Action? - Posted by Coolhand
- Thread starter coolhand
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