The indices ended the day in the green but I consider today to be a stalemate. Volume was about the same as yesterday so given the narrow range today that tells me there was a lot of churn today. I see a lot of candlesticks that appear to be bullish hammers or harami but they're really not. Most of them are actually the In-Neck Lines (bearish), On-Neck Lines (bearish) and Thrusting Lines (not quite as bullish as a harami or Piercing Pattern)... We rarely get perfect candlesticks and many of these could be open to interpretation so take my read for what it's worth (not much). At this point I can't form an opinion on whether this is the beginning of a bounce or just a pause before the selling resumes. My gut tells me that we need to at least retest today's lows before we can head significantly higher. As always, we'll see...
No changes.
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Up | Up | Up |
| Intermediate | Up | Up | Up |
| Short-term | Down | Down | Down |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
