February 12, 2002
The Dow formed an inside day, showing uncertainty, and closing down slightly at 9863 on low volume. The Nasdaq 100 was also down, at 1464.
More telecom woes
Nortel Networks stock fell after warning that it may not meet its first-quarter sales targets. (more)
Australia - ASX
The All Ords closed up at 3423 on normal volume, after reaching a new intra-day high of 3428. Expect further resistance around this level. The MACD has crossed to above its signal line.
Wesfarmers delivers [WES]
The WA-based conglomerate reported a 61% increase in half year earnings. (more)
Short-term: The MACD and Slow Stochastic have both crossed to above their signal lines. Take entries on short-term oscillator signals. Keep stop-losses tight as it is late in the secondary cycle rally.
Long-term: Wait for a correction on the secondary cycle .
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