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November 21, 2002
Understanding the Trading Diary provides further guidance.
The primary trend will reverse (up) if the index rises above 9130.
The Nasdaq Composite Index took out the August high of 1426, completing a primary trend reversal. The index closed up 3.4% at 1467.
The S&P 500 gained 19 points to close at 933.
The primary trend will complete a double bottom reversal if it rises above 965.
The Chartcraft NYSE Bullish % Indicator signals a bull alert at 42% (November 20).
General Electric announces that it will take a $US 1.4 billion charge in its struggling Employers Reinsurance division and reduces earnings forecasts for the year. (more)
New York: Spot gold is almost unchanged at $US 317.20.
The primary trend will reverse if the index rises above 3150.
The MACD (26,12,9) has joined Slow Stochastic (20,3,3) above its signal line, and Twiggs money flow signals accumulation.
This chemical company has broken the trendline from a stage 4 down-trend after completing an ascending triangle. Price then rallied before pulling back to test the support level. Relative strength (price ratio: xao) started to rise while the triangle was forming and confirmed the change at  where the trough ended higher than the previous indicator peak. Twiggs money flow is also rising.
A break below 0.92 would be bearish.
must expect new evils;
for time is the greatest innovator.
- Francis Bacon: Of Innovations (1625)