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October 22, 2003
The intermediate trend has reversed. Support is at 9230.
The primary trend is up. A fall below 9000 will signal reversal.
The intermediate trend has reversed. Support is at 1783.
The primary trend is up. A fall below 1640 will signal reversal.
The intermediate trend has reversed. Support is at 990.
The primary trend is up. A fall below 960 will signal reversal.
Short-term: Bearish if the S&P500 is below 1036.
Intermediate: Bullish above 1054.
Long-term: Bullish above 960.
Amazon and Lucent report favorable earnings but techs are sold down. (more)
The yield on 10-year treasury notes fell to 4.27%.
The intermediate trend is up. Expect resistance at 4.60%, support at 4.25%.
The primary trend is up.
New York (18:40): Spot gold has soared to $386.10.
The intermediate trend has turned up.
The primary trend is up.
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) has crossed below; Twiggs Money Flow (100) has whipsawed below its signal line, displaying a bearish "triple" divergence.
Short-term: Bullish if the All Ords is above 3317. Bearish below 3283.
Intermediate: Bullish above 3317.
Long-term: Bullish above 3160.
Last covered July 31, 2002. Cochlear's retreat from its high above 50.00 was interrupted by strong support at 30.00. Price has consolidated above this level for the past 12 months but is now displaying lower highs, with resistance at 35.00, a bearish sign.
Twiggs Money Flow (100) has failed to cross above zero on rallies, a strong bear signal.
A close below 30.00 will confirm this.
GGL displays a stage 1 base after a lengthy down-trend. Support is at 0.40 and resistance at 0.60.
while it seems to be guided by impulses too obscure to be traceable.
Consciously or unconsciously, the movement of prices reflects not the past but the future.
When coming events cast their shadows before, the shadow falls on the New York Stock Exchange.
~ William Hamilton: The Wall Street Journal (March 27, 1911)
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