This was a session which I like to label as a chopfest. The bulls can claim a victory though since the indices finished higher on the day and volume, while still on the light side, increased a bit. But I’ll call it a minor victory for the bulls since the advance decline line were mixed — positive on the NYSE and negative on the Nasdaq — and the indices didn’t even regain all of Monday’s losses.
Oil broke its July trendline today in unimpressive fashion. It may be worth keeping an eye on though…
No changes
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Down | Down | Up |
| Intermediate | Up | Down | Up |
| Short-term | Down | Down | Down |
(+) 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.
Hey Mike,
I hope you were in SOLF today
Thanks for the list of recent links. They are quite interesting.
You would do MUCh better if you used a charting system other than ‘stock charts.com’
Pro’s don’t use stockcharts.com
Mark,
If you bothered to read anything on this site about what I use to trade you’d realize that I only use stockcharts.com to post charts to this site. I trade off of QuoteTracker charts and used eSignal before that.