December 20, 2002
The primary trend is down and will only reverse up if the average rises above 9130.
The Nasdaq Composite formed a doji, signaling indecision. The close was 9 points higher at 1363.
The primary trend is up.
The S&P 500 also shows a hook reversal, closing up 11 points at 895. The index ranges between 965 and 768, establishing a base.
The primary trend is down.
The Chartcraft NYSE Bullish % Indicator appears stuck at 50% (December 18).
Wall street firms paid more than $US 1.4 billion in fines, to settle allegations that they inflated research reports to win investment banking business. (more)
New York: Spot gold eased 500 cents to close at $US 340.30.
The market is ranging between 2915 and 3050, building a broad base in the process.
The Slow Stochastic (20,3,3) is above its' signal line; MACD (26,12,9) is below. Twiggs money flow signals accumulation.
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 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 4 (RS is falling)
- Utilities [XUJ] - stage 2 (RS is level)
A stock screen of the ASX 200 using % Price Move (1 month: +5%) returned 42 stocks (compared to 99, August 23rd and 10 on October 4th). Notable sectors are:
- Agricultural Products
For further guidance see Understanding the Trading Diary.
whatever you conceive Him to be,
and whatever your labors and aspirations,
in the noisy confusion of life keep peace with your soul.
- Max Ehrmann: Desiderata (1952)