This was a session which I like to label as a chopfest. The bulls can claim a victory though since the indices finished higher on the day and volume, while still on the light side, increased a bit. But I’ll call it a minor victory for the bulls since the advance decline line were mixed — positive on the NYSE and negative on the Nasdaq — and the indices didn’t even regain all of Monday’s losses.

Oil broke its July trendline today in unimpressive fashion. It may be worth keeping an eye on though…

Trend Table

No changes

Trend Nasdaq S&P 500 Russell 2000
Long-Term Down Down Up
Intermediate Up Down Up
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.