Today’s session featured low volume and low volatility. All the market did was consolidate the recent gains. Many of the indices had inside days as it seemed that nobody was interested in pushing the indices below Friday’s lows. Hopefully volume won’t be this light all the way up to Labor Day.
The buying pressure on the Nasdaq finally let up, allowing the index to drop back under its upper Bollinger Band. I’d like to see more consolidation but I wouldn’t be surprised if people buy above today’s range. That upper Bollinger Band could become a magnet for price…
The S&P also had a very low volume inside day..
No changes today…
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Down | Lat | Lat |
| Intermediate | Lat | Up | Lat |
| Short-term | Up | Up | Up |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
