Not withstanding the rally this morning, it looks like the bears are starting to take control. The market broke through support of where it has been trading for the past month or so. This morning it bounces to just below support levels. Not sure how much vigor the rally today will have.
Here is the daily. I made the lines a few days ago.
NHNL is now neutral with negatives building. Same with the Capitalized NHNL.
December is supposed to be a bullish month, but that has not happened so far. I keep getting whipsawed around and am currently sitting again. We still may get a Santa Claus rally with lower volumes. However, January is not the greatest of months and we may see a deeper pull back soon. The market is looking very toppy right now.
