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October 21, 2003
The intermediate trend is up. An up-turn above 9660 will signal trend strength.
The primary trend is up. A fall below 9000 will signal reversal.
The intermediate trend is up.
The primary trend is up. A fall below 1640 will signal reversal.
The intermediate trend is up.
The primary trend is up. A fall below 960 will signal reversal.
Short-term: Bullish if the S&P500 is above 1045.
Intermediate: Bullish above 1045.
Long-term: Bullish above 960.
The dollar weakened against the euro and the yen. (more)
The yield on 10-year treasury notes eased slightly to 4.37%.
The intermediate trend is up. Expect resistance at 4.60%.
The primary trend is up.
New York (21:48): Spot gold rallied strongly to $380.10.
The intermediate trend is uncertain.
The primary trend is up, with support at 343 to 350.
The primary trend is up. A fall below 3160 will signal reversal.
MACD (26,12,9) is above its signal line; Slow Stochastic (20,3,3) is above; Twiggs Money Flow (100) has crossed back above its signal line but still displays a bearish "triple" divergence.
Short-term: Bullish if the All Ords is above 3307.
Intermediate: Bullish above 3307.
Long-term: Bullish above 3160.
This biotech stock has formed a broad stage 3 top. Relative Strength (price ratio: xao) has declined, with a lower high at . The indicator has now given another bear signal at , with a break below its previous low.
In the earlier up-trend, two high probability entry points are evident: Price made a short pull-back below resistance at  while RS had already given a bull signal, rising above its previous high and respecting the support level on the pull-back. At , price respected the new support level accompanied by a similar pattern on RS.
Support is at 3.80/3.90; a fall below this level will be strong confirmation of the RS bear signal. A rise above resistance at 5.30 would be bullish.
Last covered June 25, 2003.
CMQ retreated after a blow-off spike at , before consolidating above 5.00. The pattern is bullish, with higher lows at  and . Relative Strength (price ratio: xao) has held above support and is now rising to test the last high.
A close below 5.50 will be bearish.
such secondary reactions are started by developments which could by no possibility have been foreseen.
These have their obvious effect upon an over-extended bull account.
The market therefore performs its most valuable service, that of insurance.
It recedes to a safer level until it is entirely clear as to the nature of the unfavorable symptom
which it cannot yet diagnose with certainty.
~ William Hamilton: The Wall Street Journal (November 3, 1922)
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