March 3, 2008 Stock Market Recap
By Michael on Mar 3, 2008 in Stock Market
For most of the afternoon it looked like the market was headed into the abyss but things turned around in the last hour. Both the Nasdaq and S&P 500 bounced off of the support of their February lows and made somewhat bullish candles in the process. It’s up to the bulls to follow through on those candles by push the indices above today’s highs.
Trend Table
Everything flipped back to down on Friday
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Down | Down | Down |
| Intermediate | Down | Down | Down |
| Short-term | Down | Down | Down |
(+) 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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