Not much to say about today besides “wow”. The indices gapped open above their downtrends and just kept surging. CNBC says today was the biggest rally in 4 1/2 years. So once again the PPT comes to the market’s rescue — this time with just the threat of a rate cut. Here are the charts:
A good deal of improvement today… if you’re a bull. It’s still a very mixed picture though
Trend Table
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Up(+) | Down | Down |
| Intermediate | Down | Down | Down |
| 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.
