November 28, 2007 Stock Market Recap
By Michael on Nov 28, 2007 in Stock Market
Not much to say about today besides “wow”. The indices gapped open above their downtrends and just kept surging. CNBC says today was the biggest rally in 4 1/2 years. So once again the PPT comes to the market’s rescue — this time with just the threat of a rate cut. Here are the charts:
A good deal of improvement today… if you’re a bull. It’s still a very mixed picture though
Trend Table
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Up(+) | Down | Down |
| Intermediate | Down | Down | Down |
| Short-term | Up(+) | Up(+) | Up(+) |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
*** I’m simply using the indices’ relations to their 200, 50 and 10-day moving averages to tell me the long, intermediate and short-term trends, respectively.
Tags: Technical Analysis
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