Today’s whip saw market action had every investor on for quite a ride today. In particular the last two hours gave every investor a rush as the market fell to fresh session lows (subsequently triggering numerous sell orders) then proceeded to rally some 6%+ and finish at session highs.
Given today’s rally close and the high price volatility we are experiencing intraday, tomorrow should be an interesting session. Stay frosty and be ready for anything.
Trend Table
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Down | Down | 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.
