We had a particularly ugly close to today's session. The only minor positive today was that volume was relatively light. It's uncanny how often the indices are near important technical levels just ahead of a Fed meeting. It seems that the S&P and Dow are destined to touch their October 10th lows but they're taking their sweet time in getting there. The S&P is only 9 points away from that low so it's almost guaranteed to touch it tomorrow. Perhaps that will spark some interesting action -- either another leg down or some serious buying.
I guess the VIX is headed to infinity ;-)
No changes
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | 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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