April 7, 2008 Stock Market Recap

By Michael on Apr 7, 2008 in Stock Market

The indices remain stuck in a holding pattern. For the fourth session in a row they traded within relatively tight ranges and closed near last Tuesday’s closing levels. It looks like the market will work off its short-term overbought condition simply by going sideways.

Trend Table

No changes

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