Light volume day as the Fed meeting left investors unconvinced that the future is bright. The markets moved up AM but reversed in late afternoon trade. Overall stay frosty out there and consider keeping any new position sizes smaller than usual with tight stops in case this market decides to move back South. Current price points to watch are noted below.
Trend Table
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | (+) Up | Up | Up |
| Intermediate | Down | Down | Down |
| 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.
