The action has been pretty anti-climactic since the new closing highs two days ago. The indices just refuse to breakout of their trading ranges. Now that the Fed is out of the way, I'm not sure what will provide the catalyst to get us out of these ranges. I guess options expiration is a possibility but given the recent action I suspect the market will be pinned exactly where it sits now. Or maybe it'll take a move in the currency market to cause something interesting to happen in the stock market. As always, time will tell. For now I'm assuming that we're headed back to the bottom of the S&P 500's range but I'm prepared to get long if it shows strength and pops above the top of the trading range.
no changes
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Up | Up | Up |
| Intermediate | Up | Up | Up |
| Short-term | Up | Up | Up |
(+) 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.
The NASDAQ showed good volume today... encouraging.
es volume the last two days on the open is a joke. there is almost none.
where these large numbers for total spx vol comes from is questionable. must be from a few stocks like c.
don't use the vol for analysis in this environ.
Dow Transports belie this pullback. Jim
Are you liking what you saw today? Volume over Christmas will be difficult to use as a key indicator; however, Santa may come yet!
What do you think of the indexes going up .5% today despite the below average gdp number for Q3?
Seems to be a head fake to the upside.