Posted by 28 May 2008

May 28, 2008 Stock Market Recap

The early strength gave way to a day of vacillating around unchanged. The indices ended the day up slightly on mildly higher volume. This looks and feels like just an oversold bounce that could peter out at any moment.

Trend Table

One change today

Trend Nasdaq S&P 500 Russell 2000
Long-Term Down Down Down
Intermediate Up Lat Up
Short-term Lat Down 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.

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Comments

  1. Posted by bbc on May 28, 2008 at 9:09 pm

    Thanks for the info on Schwab, Street Smart Pro cannot ‘find’ many active stocks to short during the last weeks – surprise!! Also they were down about 30 minutes during the trading day. Where did you migrate to? Thanks.

  2. Posted by Michael on May 29, 2008 at 9:41 am

    I switched to Think or Swim but I may move again. I just can’t get used to their interface. I may end up at Interactive Brokers.