September 7th 2011 Market Recap

A huge rebound day for bulls allows the recent roller coaster to continue. We are still trading in a defined range so no major direction is in place yet but we may have a better idea sooner than later. Stay sharp (aka frosty) out there!

Interesting Reads: QE3 Has Already Failed (ZeroHedge), 90% of Top Retailers Don’t use Facebook (IBD), The Rise and Fall of Yahoo Infograph (TC), Bye Bye Carol Bartz (WSJ) Obama preps $300 Billion Jobs Package (Bloomberg), Sprint to Get iPhone 5 (WSJ)

Tomorrow’s Economic Calender:

Trend Table
Trend Nasdaq S&P 500 Russell 2000
Long-Term Down Down Down
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.


Today’s market recap is sponsored by Chaikin Power Tools. Learn how you can make buy-sell decisions in seconds with proven stock research and decision-making tools previously available only to Wall Street professionals.

Comments

  1. Posted by John on September 7, 2011 at 8:01 pm

    You seem to forget to update the table at the end. Aren’t all 3 benchmarks up above the 10 DMA, therefore “short-term” trend “up”. This was strong resistance today. There have been other instances during this volatile period where the table was in error too. Perhaps a quick check before you post is in order. Thanks for all you do for us.

  2. Posted by Blain on September 7, 2011 at 9:47 pm

    Great catch John, thanks! Fixed. Too bad I don’t simply have a widget that can auto update this for me :)

  3. Posted by Ron on September 8, 2011 at 12:27 am

    Love the Economic Calender. Thank you!

  4. Posted by Blain on September 8, 2011 at 9:55 am

    Thank you for the feedback!

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