A low volatility day for the market leaves us back where we ended yesterday… with many questions and few answers. With the expectations immensely lowered heading into tomorrow’s jobs report, it’ll be interesting to see how the market reacts.
Cash looks best at this time but keeping a very tight watch list of stocks just in case is not a bad idea. If this market turns back up then you can bet that some leaders will be quickly back on the move higher (NFLX, AAPL, CRM, PII, CF, COH, and TIF to name a few).
Stay frosty.
| 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.
