We're basically right back where we were at the close on Monday price-wise and indicator-wise. The folks who got long this week and held are having their conviction tested here. T2108 made a slightly lower low today vs. Monday. Perhaps we won't gap up tomorrow and I'll get my chance to put some IRA cash to work:
The VIX made a slightly lower high vs. Monday but it's still in rarefied air:
The index charts are below. The most interesting move today was by the Russell 2000 which broke down below its July lows. It's joining the other indices in the muck of multi-year lows.
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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