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.