Volume was on the light side again today. It seems like the market’s just in a holding pattern waiting for the big bad jobs report to be released tomorrow morning. The S&P managed to close dead on its 50-day moving average today (damn those technical traders). It’ll be interesting to see where it ends up at tomorrow’s open — I’m assuming there will be a gap due to the jobs number. The action on the Nasdaq, and especially the NDX/QQQQ, seems really bearish to me and I’m not sure that it can be saved by the payroll data.
Trend Table
No changes today
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Down | Up | Up |
| Intermediate | Down | Lat | Down |
| Short-term | Up | Up | Up |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
yes very interesting technicals at this point
the dow 30 in particular has dmas from 50 – 100 at almost exactly the same level
do you think that has any value? or is it just a broken indicator?