April 16, 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 rallied more than 2% to close at 10301 on good volume.
The up-trend on the secondary cycle is still intact.
The Nasdaq Composite index gapped up 3.5% to close at 1815.
The S&P 500 also climbed more than 2%, closing at 1128.
Still within the 1070 to 1180 trading range.
Tech rally boosts Dow
A tech rally, with positive news from Texas Instruments, Sprint
and Novellus, and lower than expected March CPI
figures boost the Dow. (more)
GM reported strong sales
and first-quarter earnings despite a US$ 400 million
restructuring charge. (more)
The All Ords rallied to 3337 on reasonable volume, but is still
in a down-trend with Chaikin Money Flow signaling
distribution. The MACD is still below its signal line.
SFE debut [SFE]
The Sydney Futures Exchange opened midday on the ASX at
$4.00 then slid back to close at $3.80. (more)
Short-term: Wait for MACD to cross above its signal line (Slow
Stochastic is already above).
Medium-term: Wait for a new high on the All Ords.
Long-term: Wait for the Nasdaq or S&P 500 to break above
their January highs.
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