May 28, 2008 Stock Market Recap
The early strength gave way to a day of vacillating around unchanged. The indices ended the day up slightly on mildly higher volume. This looks and feels like just an oversold bounce that could peter out at any moment.
Trend Table
One change today
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Down | Down | Down |
| Intermediate | Up | Lat | Up |
| Short-term | Lat | Down | 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.
Post from: Trader Mike's Blog
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