After stopping short yesterday the Dow made it above 14,000 today. The big winner of the day though was the semiconductor index, which was up almost 3%. Intel was trading down after hours so this SOX move may get a good test tomorrow.
The semis helped drive the Naz higher. It’s continuing to chase its upper Bollinger Band and clinging to the top of its trend channel.
The S&P ended flat on the day and has been stuck in a tight range since Friday.
It’s certain to be an interesting morning with some big names trading down post-earnings tonight as well as the Bear Stearns hedge funds going to zero.
No changes
| 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
*** I’m simply using the indices’ relations to their 200, 50 and 10-day moving averages to tell me the long, intermediate and short-term trends, respectively.
