When he tryin' to get this money for the rent...
It was a big day for the bulls today. They shook off the little pre-market China scare and proceeded to push the indices to new all-time and multi-year closing highs. Volume rose back to respectable levels although trading was still lighter than last Thursday's big down day. But that less than desirable volume action is about the only thing the bears can hang their hopes on in this market.
So much for that potential falling three methods I talked about yesterday. The S&P 500 finally made the new closing high it kept flirting with last week. It's still 22 points below the all-time intraday high from March 24, 2000 -- what a wild day that was.
The Nasdaq climbed back above the congestion zone around the early May highs and made a new multi-year high close. It sure looks like it has to retest 2,600 now.
An all-time high close on the Russell 2,000 as well.
No changes
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Up | Up | Up |
| Intermediate | Up | Up | Up |
| Short-term | Up | Up | Up |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
