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January 10, 2003
The average is forming a base between 7500 and 9130. Recently, it has held above 8161 and failed to re-test support at 7500; a bullish sign.
The primary trend is down and will only reverse up if the average rises above 9076 (the high from December 02).
The Nasdaq Composite fared better, gaining 9 points to close at 1447.
The primary trend is up.
The S&P 500 closed unchanged at 927.
The index ranges between 965 and 768, establishing a base. It has recently held above 867, failing to re-test support at the lower end of the base; a bullish sign.
The Chartcraft NYSE Bullish % Indicator increased to 52% (January 09).
Further job cuts keep unemployment at 6%; an 8-year high. (more)
New York: Spot gold gained 230 cents to $US 354.40
The index ranges between 2915 and 3050, forming a base. A break above 3050 will signal a primary trend change to an up-trend. Look for volume confirmation.
Slow Stochastic (20,3,3) is below its signal line; MACD (26,12,9) is above; Twiggs money flow is falling.
Changes are highlighted in bold.
- Energy [XEJ] - stage 4 (RS is level)
- 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 level)
- 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 rising)
A stock screen of the ASX 200 using % Price Move (1 month: +5%) returned 72 stocks (compared to 99, August 23rd and 10 on October 4th). Notable sectors are:
- Electric Utilities
- Health Care
- Highways & Railtracks
- Diversified Commercial
- Construction & Engineering
- Construction Materials
- Diversified Metals & Mining
- Oil & Gas Exploration
For further guidance see Understanding the Trading Diary.
is in the dictionary.
- Proverb from Ruth Barrons Roosevelt: Exceptional Trading - The Mind Game