Trading Diary
March 27, 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 rose 0.7% to close at 10426 on lower volume.
The primary up-trend continues.
The Nasdaq Composite index closed up slightly at 1826. The primary trend is still downwards as the secondary cycle has failed to exceed its January high.
The Nasdaq Composite index closed up slightly at 1826. The primary trend is still downwards as the secondary cycle has failed to exceed its January high.
The S&P 500 rose 0.5% to close at 1144. The index is in a
similar position to the Nasdaq, failing to rise above its
January high.
Gold
Australia - ASX
The All Ords recovered to 3360 on reasonable volume. The MACD
and Slow Stochastic are below their signal lines. Chaikin
Money Flow shows a slight bullish divergence.
Sectors: Gold
Gold (XGO) is close to making a 3-year high while relative
strength (price ratio) is rising.
Conclusion
Short-term: Avoid long.
Medium-term: Wait for a new high on the All Ords.
Long-term: Look for a reversal on the Nasdaq or S&P 500 -
if they break above their January highs.
Colin Twiggs
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