It was a pretty quiet day with respect to price and volume. So the technical picture hasn’t really changed, except that the market’s a little more oversold. It looks like the indices are repeating the pullbacks they made in late March and I’ve still got my eyes on those late March lows. Let’s see if they can withstand the PPI report tomorrow morning.
|Trend||Nasdaq||S&P 500||Russell 2000|
(+) 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.
Post from: Trader Mike's Blog