Another rough session, especially for commodities. Gold, Oil, Silver, Coal, you name it. They all took a beating today. Market is a bit oversold which is good for bulls but if key support falls for the indices this market may be in for a legitimate correction and not a natural pull back.
See you back here tomorrow for some weekend reader Q&A and survey results.
Trend Table
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Up | Up | Up |
| Intermediate | Up | Up | 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.
