I apologize as I did not end up having enough time to finish and post the survey results. They are set to now go out tomorrow morning, 9 AM EST, so keep an eye out!
Nothing too major to report today… the market traded lower volume and closed with an inside bar (trading range within trading range of previous day). For swing traders this means a break above today’s high is a buy signal, and vica versa.
Overall we are establishing a horizontal trading range which will help determine the market’s future direction. I have been raising stops on my positions as they move up to lock in profits in case this market heads lower.
| 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.
