Volatility diminished today as the effects of the Federal Reserve action was contemplated along with nervousness associated with more potential bad news coming. The markets traded in their narrowest range in over three weeks (July 19 for the SPY). The charts remain deeply damaged and will need a lot more time before they can be considered buyable on a daily timeframe. With the 50 MA declining in the SPY and IWM, the burden of proof remains on the bulls.
Stock market video technical analysis and for Monday August 10, 2007 including; Nasdaq 100 Trust Shares (NASDAQ:QQQQ), S&P 500 Index (AMEX:SPY), Semiconductor HOLDRs (AMEX:SMH), iShares Russell 2000 Index (ETF) (Public, NYSE:IWM), UltraShort QQQ ProShares (ETF) (Public, AMEX:QID) and Goldman Sachs Group, Inc. (Public, NYSE:GS) Trend analysis for daytraders and swingtraders of stocks and options. Trading stocks involves risk; this information should not be viewed as trading recommendations.