This was a great day for the bulls. Not only was every sector higher on the day but the Nasdaq and Russell 2000 closed solidly above their 200-day moving averages. The Russell is now less than 1% away from erasing all of its 2008 losses. The other indices are 4 to 5% away from the same feat.
The larger cap indices aren’t looking quite as good as the Russell…
Trend Table
Some big changes today with two 200-day moving averages breakouts.
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Up(+) | Down | 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.
