Quick heads up, I will not be in the office this Thursday (4/28) so there will be no market recap on this day. Wednesday will be the last one for this week.
A big day for the markets as both the NASDAQ and S&P 500 broke through their key resistance on strong volume. As long as we do not see a quick reversal back into the base later this week, we should expect higher prices from here.
I have five charts tonight including both Gold and Silver for your viewing pleasure. Hope this market is treating you well. Stay frosty out there!
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | 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.
