February 28, 2008 Stock Market Recap

I just can’t work under these conditions! The intraday choppiness got even worse today. The market gapped down then had two cycles of mini-rallies & mini-selloffs. So it was just a microcosm of what’s been taking place in the daily charts for the last month. So it’s just more consolidation as the market waits for some catalyst to push it out of its several week long trading range.

Trend Table

No Changes

Trend Nasdaq S&P 500 Russell 2000
Primary Down Down Down
Intermediate Down Down Lat
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.

Comments

  1. Posted by Jonathan on February 28, 2008 at 8:43 pm

    I feel your pain. Sitting on my hands is getting old.

  2. Posted by Keith Shepard on February 29, 2008 at 1:44 pm

    It’s even hard as a Swing Trader. Stops getting clipped at tops & bottoms all day long. Failed gaps killing me. Very frustrating.