An archive of all past newsletters can be found at Trading Diary Archives.
November 29, 2002
The Nasdaq Composite index closed down slightly at 1468.
The S&P 500 closed almost unchanged at 936.
The Chartcraft NYSE Bullish % Indicator signals a bull alert at 48% (November 27).
New York: Spot gold gained 110 cents to $US 318.70.
The primary trend will reverse if the index rises above 3150.
The Slow Stochastic (20,3,3) has crossed back above its signal line; MACD (26,12,9) is above; Twiggs money flow has respected the zero line, a bullish signal.
Last covered on August 26.
WOW formed a stage 3 top, in the shape of a a symmetrical triangle, after a long up-trend. Price has now broken out below the triangle at [F]. Relative strength (price ratio: xao) is falling.
Changes are highlighted in bold.
- Energy [XEJ] - stage 4 (RS is falling)
- Materials [XMJ] - stage 2 (RS is rising)
- Industrials [XNJ] - stage 4 (RS is falling)
- Consumer Discretionary [XDJ] - stage 2 (RS is rising)
- Consumer Staples [XSJ] - stage 4 (RS is falling)
- Health Care [XHJ] - stage 1 (RS is level)
- Property Trusts [XPJ] - stage 3 (RS is level)
- Financial excl. Property Trusts [XXJ] - stage 4 (RS is falling)
- Information Technology [XIJ] - stage 4 (RS is falling)
- Telecom Services [XTJ] - stage 4 (RS is falling)
- Utilities [XUJ] - stage 2 (RS is falling)
A stock screen of the ASX 200 using % Price Move (1 month: +5%) returned 36 stocks (compared to 99, August 23rd and 10 on October 4th). Notable sectors are:
- Diversified Metals & Mining
For further guidance see Understanding the Trading Diary.
that prevents us from learning.
- Claude Bernard (1813 - 1878), founder of experimental medicine.