Markets Move Below Daily Lows of the Last Five Days

DJIA - 49.18, -0.39% SP500 - 11.05, -0.81% NASDAQ Comp. - 26.64, -1.13% Russell 2000 - 13.54, -1.90% The broad indices fell below their lows of the last five days but rallied in the last half hour closing above their lows for the day. Both the DJIA and the S&P closed above the mid-section (the S1 level) of Tuesday’s large white candle. The Nasdaq Composite and Russell had larger pullbacks today and closed below S1. We have shifted the short-term trend status to neutral and will shift to bearish if markets move lower tomorrow. The markets look ready to move lower. Watch the price action near the mid-section of Tuesday’s large white candle for a support break. We reiterate that earnings season is upon us so be aware of when your holdings are reporting their earnings and consider that in your analysis of any new trades you are evaluating. ETF’s do offer a viable trading opportunity during earnings season because there are no earnings releases that need to be considered. Today’s Action Continuing to Rise AFL, CF, MOS, PCLN fell 5 cents POT down 26 cents JASO down 13 cents MEE down 6 cents Pullbacks ACI, AGU, BIDU, CLF, DE, EXPE, FSLR, MON, SCHN, STLD, STRA, X AAPL moved down another 1.40, continue to watch for a potential support bounce entry. NSM formed a hammer today and finished up 6 cents. Watch for a potential support bounce entry signal. Down Trending Stocks Moving Lower AMLN, AMZN, GRMN, NTAP, PETM, SBUX, UAUA, FXI, LFC, PTR BBBY fell 1.66 in the aftermarket trading after releasing earnings below estimates. Intermediate Term Market Trend: Neutral Short Term Market Trend: Neutral