The bulls really liked what Bernanke had to say today… or maybe it’s what he didn’t say. Either way, the market took off like a rocket shortly after Big Ben began speaking at 10:00. The Dow and S&P 500 closed at new highs and the Nasdaq is threatening 2,500 again. Charts of the S&P 500, Nasdaq and Russell 2000 are below:
Trend Table
All trends are up once again.
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Up | Up | Up |
| Intermediate | Up | Up | Up |
| Short-term | Up(+) | Up | Up |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
Looking at the StockCharts closest version of the T2108, the $NYA50R……..Gee Wiz isn’t the clock just ticking here or are we in for another repeate of the last exteneded season after the 4year cycle from 03 to mid 04 where there seemed to be no correction?
Happy Valentine’s to you too TG.
d333gs — I find that those type of indicators work much better at bottoms than at tops. You’ve got a whole lot of greed & performance chasing to fight at tops so they tend to drag out longer.