Clearly it was a good day to be long. We’ve got a new all-time high on the Dow and a new multi-year high for the Nasdaq. The S&P is just a few points from its all-time high made in July. It’s looking like all systems go again for the bulls. (That wall of worry is a mofo!)
Here are the charts:
I imagine the S&P will test the July high tomorrow. That may be the bears’ last stand — for a while anyway…
We got that Russell bull flag breakout…
Just an upgrade to the Russell’s long-term trend today. Once again everything is UP.
| 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.
