June 28, 2002
This is a bear market, with primary and secondary cycles trending down.
The Nasdaq Composite closed 4 points up at
1463, with sellers dominating the close.
The primary and secondary cycles are in a down-trend.
The S&P 500 also failed to hold on to
intra-day gains, closing down 1 point at 989.
Primary and secondary cycles trend downwards.
Shareholders overwhelmingly back plans to spin-off BHP Steel. (more)
Detrended Price oscillator has crossed below its signal line. The index has been ranging between 15.00 and 15.50 during June but closed Friday at 14.98.
AurionGold [AOR] has declined after directors rejected the Placer Dome offer. The candlestick hammer signals a support level.
The old ASX sectors are grouped under their new GICS headings (this not 100% accurate - some stocks have been re-classified). Stage changes are highlighted in red.
Energy [XEJ] - stage 1
Energy (XEY) - stage 3
Materials [XMJ] - stage 4
All Mining (XAM)
- stage 2
Gold (XGO) - stage 2
Other Metals (XOM) - stage 3
Diversified Resources (XDR) - stage 4
Paper & Packaging (XPP), Chemicals (XCE) - stage 2
Building Materials (XBM) - stage 3
Industrials [XNJ] - stage 4
Engineering (XEG) and Transport (XTP) -
Diversified Industrials (XDI) - stage 4
Consumer Discretionary [XDJ] - stage 4
Tourism & Leisure (XTU) -stage 2
Media (XME) - stage 4
Consumer Staples [XSJ] - stage 3
Food & Household Goods (XFH) - stage
Retail (XRE) - stage 3
Alcohol & Tobacco (XAT) - stage 4
Health Care [XHJ] - stage 4
Health & Biotech (XBH) - stage 4
Property Trusts [XPJ] - stage 2
Property Trusts (XPT) - stage 2
Financial excl. Property Trusts [XXJ] - stage 2
Banks & Finance (XBF) - stage 2
Investment & Financial Services (XIF), Developers & Contractors (XDC), Insurance (XIN) - stage 4
Information Technology [XIJ] - stage 4
Miscellaneous Industrials (Technology) (XMI) - stage 1
Telecom Services [XTJ] - stage 4
Telecom (XTE) - stage 4
Utilities [XUJ] - stage 1
Infrastructure Utilities (XIU) - stage 4
On July 5th the ASX will cease to provide the old ASX indices.
Sectors: Relative Strength
A stock screen of equities using % Price Move (1 month: +10%, 1 year: +30%) is dominated by Gold and Mining Explorers.