The next version of Incredible Charts will enable users to screen their own watchlists.
November 01, 2002
The Nasdaq Composite Index resumed its upward trend, rising 2.3% to close at 1360. The primary trend will reverse if the index breaks above 1426.
The S&P 500 also ranges (between 867 and 967) closing up 15 points at 900. The primary trend is down. The index will complete a double bottom reversal if it rises above 965.
The Chartcraft NYSE Bullish % Indicator signals a bull alert at 36% (October 30).
Automobile sales are 27% below sales a year earlier. (more)
New York: Spot gold was up 70 cents at $US 318.60.
The Slow Stochastic (20,3,3) and MACD (26,12,9) are above their signal lines, while Twiggs money whipsaws around the zero line.
AJL is in a strong up-trend after forming a broad base over the past 12 months, reminding us of the old traders proverb: The broader the base the bigger the move. Price has now formed a pennant continuation pattern over the last 3 weeks. Relative strength (price ratio: xao) is rising steeply.
Changes are highlighted in bold.
- Energy [XEJ] - stage 4 (RS is level)
- Materials [XMJ] - stage 1 (RS is level)
- Industrials [XNJ] - stage 4 (RS is falling)
- Consumer Discretionary [XDJ] - stage 4 (RS is level)
- Consumer Staples [XSJ] - stage 1 (RS is rising)
- Health Care [XHJ] - stage 4 (RS is falling)
- Property Trusts [XPJ] - stage 2 (RS is rising)
- Financial excl. Property Trusts [XXJ] - stage 4 (RS is falling)
- Information Technology [XIJ] - stage 4 (RS is falling)
- Telecom Services [XTJ] - stage 1 (RS is rising)
- Utilities [XUJ] - stage 2 (RS is rising)
A stock screen of the ASX 200 using % Price Move (1 month: +5%) returned 32 stocks (compared to 99, August 23rd and 10 on October 4th). Notable sectors are:
- Diversified Metals & Mining
- Diversified Financial Services
- Movies & Entertainment
- Specialty Chemicals
- Real Estate Investment Trusts.
Strength of mind or of character is the ability to keep one's head at times of exceptional stress and violent emotion.
Firmness cannot show itself, of course, if a man keeps changing his mind. It demands sticking to one's convictions.
Claus von Clausewitz (1831), On War.