Today was another basically flat day, especially on the S&P 500 and NASDAQ, so my view hasn’t changed at all. We’ve still got all the indices trying to get through their long term group of Multiple Moving Averages (MMAs) while in overbought territory. The bulls have to be happy that the market is hanging tough though. Perhaps we’ll get some news soon to move the market one way or the other. Here’s what the NASDAQ looks like with its MMAs:
