It was a pretty quiet day with respect to price and volume. So the technical picture hasn't really changed, except that the market's a little more oversold. It looks like the indices are repeating the pullbacks they made in late March and I've still got my eyes on those late March lows. Let's see if they can withstand the PPI report tomorrow morning.
Trend Table
No changes
| 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.
Mike, just found your blog a few weeks ago and love it. I saw you linked to the Seeking Alpha post…just curious, where do you land on the “debateâ€. I personally don’t read SA…it just never made it to my list of daily must-reads.
I referred to it as "pimp-a-blogger" for a reason. I've long been against contributing those type of sites (MoneyBlogs is another). They want people to create content for free which they then monetize and keep all the cash.
Besides that, it also becomes an issue with Google search results. Seeking Alpha will usually have much more "Google juice" than some random blog. So the bloggers are hurting their own blogs b/c Google will point people to Seeking Alpha instead of the blogger's own site where the content originated.