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May 19, 2003
The intermediate upward trendline has been broken, signaling weakness.
The primary trend is down; a rise above 9076 will signal a reversal.
The intermediate upward trendline is broken, signaling weakness.
The primary trend is down; a rise above 954 will signal an up-trend.
The intermediate trend is up, but weakening.
The index is in a primary up-trend.
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.
Treasury Secretary John Snow's comments imply that the US government is comfortable with a weaker dollar. (more)
New York (18.35): Spot gold has surged to $US 365.80.
On the five-year chart gold has respected the long-term upward trendline.
The intermediate up-trend is weak and a close below 2909 will signal a reversal.
The primary trend is down. A rise above 3062 will signal an up-trend.
MACD (26,12,9) is below its signal line; Slow Stochastic (20,3,3) is below; Twiggs Money Flow (21) is weakening.
Intermediate: Long if the primary trend reverses up (XAO above 3062); short if the intermediate trend reverses down (falls below 2909).
Long-term: There is already a bull signal: the March 18 follow through. Wait for confirmation from a primary trend reversal.
SYM has formed a new 3-month high [d] after a broad base, following a steep stage 4 down-trend.
Note the sharp downward spike at [a] accompanied by huge volume - commonly referred to as a shakeout. This normally establishes a strong support level for the stock, evident on the chart below. SYM re-tested support at [b] after an initial rally had formed a vulnerable V-bottom. And we now have a break above the high of [c], signaling an up-turn.
The power bar at  shows a healthy breakout and the pull-back at  only lasted one day.
The subsequent rally at  is on thin volume and closed back at 0.90; we may encounter further consolidation before the rally continues.
A close below the support level would be bearish.
In times of change, learners inherit the
while the learned find themselves beautifully equipped
to deal with a world that no longer exists.
- Eric Hoffer.
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