There's not much to say about today besides "more of the same". We had another high(er) volume sell off complete with very negative breadth. The headline of the day is that the Dow has now gone negative for the year. (As if things just got ugly today... but who cares about the Dow???)
T2108 is now in the buy zone, under 20. It closed at 15 today. Likewise, $SPXA50R, dropped under 20 today. Bears should not get too greedy right now.
Trend Table
No changes today
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Down | LA | LA |
| Intermediate | Down | Down | Down |
| Short-term | Down | Down | Down |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
LA Indicates a Lateral trend
Hey ya Mike. :-)
I don't know if you look at this market indicator, but did you also happen to take a look at T2107 (% Stocks Above 200 Day Pma)in TeleCharts? HOLY SMOKES! It has plunged below the Oct. 05 lows. Man...we are overly over sold.
But...T2107 still isn't as low as it was Oct. 2002 (15.99). Even though...creepy…creepy market going into summer. Summer rally? Hrmmm...
Be well and good trading. Cheers. :-)
Mousefinger,
wow, that looks even worse than T2108