January 28, 2008 Stock Market Recap
By Michael on Jan 28, 2008 in Stock Market
The bulls turned early losses into 1-to-2 percent gains on the major indices today. Those gains have created some minor improvements on the trend table (see below). The one problem with today’s rally was that volume dried up. This was one of the lightest volume days of the month.
Trend Table
Improvements inthe short term trends today
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Down | Down | Down |
| Intermediate | Down | Down | Down |
| Short-term | Lat(+) | Lat(+) | 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.
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2 Comment(s)
By jmjatlanta on Jan 29, 2008 | Reply
$RUT - Next week’s high? You know something we don’t? Just kidding. Enjoy your trading day.
By Michael on Jan 29, 2008 | Reply
um, I was just checking to see if anybody was actually reading what I write.
Of course that should say “last week’s high”. That’s what happens when i drink before doing my nightly posts.