"Narrow range consolidation" pretty much sums up today. All the indices were down today, even the Dow (gasp!). True to recent form, the larger cap indices showed relative strength. The S&P 500 was down only 0.9% while the Russell 2000 ended the day 0.56% lower. All of the major indices made NR7 bars today and I see a ton of stocks on my NR7 scan tonight. That tells me to expect some range expansion in the near future. Hopefully that won't happen tomorrow because I'm taking the day off for options expiration.
Here are the charts of the S&P 500, Nasdaq and Russell 2000:
Trend Table
No changes.
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Up | Up | Up |
| Intermediate | Up | Up | Up |
| Short-term | Down | Up | Down |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
