US DATA UPDATE.
We have received a corrupted file from our US data suppliers and are awaiting a replacement. Please note that Index time stamps may show 01Sep2003 but the data for that day is blank.
We will send a later revision when the correction is through.
September 1, 2003
The Commerce Department reports that consumer spending, which accounts for about two-thirds of economic activity, grew 0.8 percent in July, compared to 0.6% in June. (more)
The yield on 10-year treasury notes is almost unchanged from last week at 4.45%.
The intermediate and primary trends are both up.
New York (13.30): Spot gold ended the week up at $375.30.
The primary trend is up.
Price has broken above a symmetrical triangle, with a target of 420. There may still be some resistance at 382.
MACD (26,12,9) is above its signal line; Slow Stochastic (20,3,3) is above;
Twiggs Money Flow signals accumulation.
Short-term: Go long if the All Ords is above 3203. Go short if the intermediate trend reverses.
Intermediate: Go long if the index is above 3160.
Long-term: Take long positions if the index is above 2978 .
Like Lazarus rising from the dead, the IT sector index [XIJ] has made a new high for 2003, signaling a primary up-trend.
Relative Strength, MACD and Twiggs Money Flow (100) are all rising.
MACD is bullish; Relative Strength is rising; while Twiggs Money flow still lingers below zero, signaling distribution.
V-bottoms often retreat to re-test support levels at the base.
MACD and Relative Strength are both level, while Twiggs Money has fallen back below zero, signaling distribution, after a sharp upward spike.
MACD has completed a bearish trough below zero; Relative Strength is falling; and Twiggs Money Flow signals strong distribution.
Relative Strength is rising; MACD is bullish; while Twiggs Money flow still signals distribution after a sharp drop in May.
MACD is bullish; Relative Strength is rising; while Twiggs Money Flow still signals distribution.
Twiggs Money Flow has spiked sharply, signaling strong accumulation; MACD is fairly bullish and Relative Strength threatens to make a new 3-month high.
Relative Strength is rising; MACD is fairly bullish; while Twiggs Money Flow signals a bearish divergence.
MACD is bullish; Relative Strength is rising; but Twiggs Money Flow still signals distribution.
A break below the trendline would be a further bear signal.
Relative Strength has formed a bullish 3-month high; Twiggs Money Flow signals strong accumulation; and MACD is bullish.
to get advice from those who take the subway.
~ Warren Buffet
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