Volume was very light again today — barely above Monday which was the lowest full-day volume of the year. The indices dropped below the support of the last few sessions but didn’t get much follow-through. So it still looks like normal, bullish consolidation to me.
Here are charts of the Nasdaq, S&P 500 and Russell 2000:
Trend Table
No changes today although the Russell’s short term could really be called lateral right now given that it’s right on the 10-day moving average…
| 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
