Sour ISM numbers caused the market to reverse its AM gap up and sell off despite news that the debt ceiling is on the brink of being passed by the US government. Overall, Cash remains king and day trading reigns surpreme.
A call to successful day traders – If you are an active day trader making money in this shitty, ever-changing market please email me. I would be interested in possibly interviewing you on your strategy and psychology navigating today’s landscape for blog readers. Thanks!
PS – I will be out of town Wednesday – Friday this week so there will not be any late week updates.
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Up | Up | (-) Down |
| 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.
