Starting to finally work off some heavily oversold readings for this market with today’s upswing. The play at the 200 MA support was so obvious that it makes me very skeptical of these quick, sharp rebounds on low volume. I am remaining very cautious with putting cash back to work until we can see some further upside along a confirmation accumulation day or two. Sticking with short term, even intra-day positions is probably best at this time.
A few names that stood out for me today off my close watch list include WCG, CF, SQM, FTO, HOC, ALLT, PLCM, and UA. Stay frosty out there 
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| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Up | Up | Up |
| Intermediate | Down | Down | Down |
| 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.
