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November 25, 2002
The primary trend will reverse (up) if the index rises above 9130.
The Nasdaq Composite Index held on to its gains, closing up 0.9% at 1481.
The primary trend is up.
The S&P 500 an inside day, closing 2 points up at 932.
The primary trend will complete a double bottom reversal if it rises above 965.
The Chartcraft NYSE Bullish % Indicator signals a bull alert at 46% (November 22).
Newscorp may make a second attempt to take over DirecTV after EchoStar's bid encounters difficulties.
New York: Spot gold is down 290 cents at $US 317.70.
The primary trend will reverse if the index rises above 3150.
The MACD (26,12,9) and Slow Stochastic (20,3,3) are above their signal lines; Twiggs money flow signals accumulation.
Last covered on November 19, 2002.
After breaking through resistance at 2.00, CTX has failed to pull back to the support level, forming a bullish pennant pattern instead. The continuation pattern is reinforced by the sharp increase in volume,  and , at the start of the pattern, followed by declining volume. An upward breakout accompanied by a sharp increase in volume will be a strong bull signal. Stop losses are normally placed below the lower border of the pattern, opposite the breakout.
Relative strength (price ratio: xao), Twiggs money flow and MACD are all bullish.
A break below the lower border of the pattern would be bearish.
For further guidance see Understanding the Trading Diary.
I'd suggest that you take the time to seriously ponder
whether the path you are on is the one you want to be on.
Perhaps your journey will then be shortened.
- Jack Schwager's conclusion to The New Market Wizards