sitesearch
 


Trading Diary
March 20, 2002

These extracts from my daily trading diary are intended to illustrate the techniques used in short-term trading and should not be interpreted as investment advice. Full terms and conditions can be found at Terms of Use .




USA
The Dow fell more than 1% to 10499 but continues to hold above the 10300 support level.
The Nasdaq Composite index fell 2.5% to 1832.
The S&P 500 closed down 1.5% at 1151, again failing to penetrate resistance at 1170-1180. 
Rate hikes?
The Fed's shift to a neutral bias for interest rates may signal that rate hikes lie ahead but, overall, is a healthy sign for the economy. (more)

Australia - ASX
The All Ords closed up at 3412 on normal volume but Chaikin Money Flow signals that distribution is taking place. The Slow Stochastic is above its signal line.



MIG to raise $1 billion [MIG]
Macquarie Infrastructure Group confirms its intention to up its investment in Canadian toll road 407.(more)

Dollar at 6-month high [AUD]
The Australian dollar closed at 52.77 US cents - the highest close in 6 months.(more)





Conclusion

Short-term: Avoid new positions until the MACD crosses above its signal line.
Medium-term: Wait for a new high on the All Ords.
Long-term: Look for the Nasdaq or S&P 500 to break above their January highs.


Colin Twiggs


P.S. We are trying out new Email software. Please report if you experience any problems with the trading diary.

Please forward this to your friends and colleagues.




Back Issues
Click here to access the Trading Diary Archives.



How Good Is Your Market Analysis?
Compare our market views.





The weekly Trading Diary offers fundamental analysis of the
economy and technical analysis of major market indices,
gold, crude oil and forex.
The monthly What's New newsletter covers new articles
on Trading and the Economy, as well as new software updates.




Back Issues
Access the Trading Diary Archives.





 
Top of Page