Well that was an anticlimactic Fed (non) decision, but at least it's out of the way. Just like interest rates, my read of the market remains unchanged.
For the second day in a row the Nasdaq rallied back from a gap down opening after finding support at its 10-day moving average. Although it closed within last Friday's range today's 4.5 point gain was enough for a new multi-year closing high.
Another day, another new multi-year high for the S&P 500. It only has about 40 points to go to reach its all-time high. At this rate we should be there by June...
The Russell 2000 made a new all-time high today but its still below April's intraday resistance.
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
