Another drama filled day for the market. US debt ceilings, Bernanke, stimulus, Italy, Greece, China growth, and now earnings season; Are you kidding me?! This is a day trader’s wet dream and the average investor’s worst nightmare.
If there is one bright spot heading into tomorrow though, it is Google (GOOG). The Google+ fantasy train is picking up steam and investors are loving it. Coupled with a strong quarter the stock is up to $595 (+12.5%) after hours. This has pushed futures up heading into tomorrow so get ready for more market action and by all means stay frosty out there.
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Up | Up | Up |
| Intermediate | Up | (-) Down | 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.
