Posted by 19 January 2007

Jan. 19, 2007 Stock Market Recap

This was a pretty uneventful expiration day. Charts of the indices are below…

The Nasdaq found support at its 50-day moving average which is a logical place for buyers to step up. Let’s see if they can follow through on today’s bounce.

The Russell 2000 bounced back near a few moving averages and to the middle of its recent trading range.

The S&P 500 regained most of yesterday’s losses and is not far from new highs.

Trend Table

I’m switching the Russell’s short-term trend to up and intermediate trend to lateral.

Trend Nasdaq S&P 500 Russell 2000
Primary Up Up Up
Intermediate Up Up Lat(+)
Short-term Down Up Up(+)

(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend

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Comments

  1. Posted by mik3y on January 21, 2007 at 5:02 am

    Dig the blog and perspective…Keep up the good work…Rock On Dude!\:d/

  2. Posted by Robb on January 21, 2007 at 9:55 pm

    Great blog you got here ^:)^ . Q. on the 1 yr, weekly chart; the $spx, $rut, $compq, $indu seem to have cresting MACD’s, are they taking a breather or about to turn. ~X(

  3. Posted by phil on January 22, 2007 at 5:34 am

    bravo for your site, very interesting …:)

  4. Posted by Michael on January 22, 2007 at 9:37 am

    thanks guys