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We have extended the cut-off until mid-May - to fit in with the introduction of US charts.
May 9, 2003
The intermediate trend is edging upwards.
The primary trend is down; a rise above 9076 will signal a reversal.
The S&P 500 rallied 13 points to close at 933, testing resistance at 935.
The slow intermediate up-trend continues.
The primary trend is down; a rise above 954 will signal a reversal.
The Nasdaq Composite gained 2% to close at 1520, testing resistance at 1521.
The intermediate trend is up.
The primary trend is up.
The Chartcraft NYSE Bullish % Indicator closed almost unchanged at 57.00% on May 8, following a Bull Correction buy signal on April 3.
Long-term: There are already two bull signals: the March 17 follow through day and the April 3 NYSE Bullish % signal. Wait for confirmation from a Dow/S&P primary trend reversal.
Debt reduction by uncertain consumers may lead to a liquidity trap similar to Japan. (more)
New York (16.44): Spot gold closed at $US 348.30.
On the five-year chart gold has respected the long-term upward trendline.
The intermediate up-trend is weakening; a close below Monday's low of 2926 will signal a reversal.
The primary trend is down. A rise above 3062 will signal reversal to an up-trend.
MACD (26,12,9) and Slow Stochastic (20,3,3) are below their signal lines and the Stochastic has fallen below 80%, a further bear signal; Twiggs Money Flow (21) is below its trendline but still signals accumulation.
Long-term: There is already a bull signal: the March 18 follow through. Wait for confirmation from a primary trend reversal.
Changes are highlighted in bold.
- Energy [XEJ] - stage 1 (RS is level)
- Materials [XMJ] - stage 3 (RS is falling)
- Industrials [XNJ] - stage 4 (RS is rising)
- Consumer Discretionary [XDJ] - stage 1 (RS is level)
- Consumer Staples [XSJ] - stage 1 (RS is rising)
- Health Care [XHJ] - stage 4 (RS is falling)
- Property Trusts [XPJ] - stage 3 (RS is rising)
- Financial excl. Property Trusts [XXJ] - stage 1 (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 a lower 61 stocks (compared to 131 on April 11, 2003; and 8 on March 14, 2003).
- Diversified Financial (4)
- Health Care Facilities (4)
- Diversified Commercial (3)
- Data Processing (3)
- Diversified Metals& Mining (3)
The wise man bridges the gap by laying out
by means of which he can get from where he is
to where he wants to go.
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