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
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 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
Gold closes above $300 per ounce. (more)
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.
Gold (XGO) is close to making a 3-year high while relative
strength (price ratio) is rising.
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.
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