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 | 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.
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.
Great catch John, thanks! Fixed. Too bad I don’t simply have a widget that can auto update this for me
Love the Economic Calender. Thank you!
Thank you for the feedback!