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January 30, 2004
A fall below Thursday's low of 10417 would signal a re-test of support at 10000.
The primary trend is up. A fall below support at 9600 would signal reversal.
The intermediate trend is uncertain. Initial support is at 2000, resistance at 2300.
The primary trend is up. A fall below support at 1640 will signal reversal.
The intermediate trend is up, with resistance overhead at 1175.
Short-term: Bullish if the S&P500 is above 1155.
Twiggs Money Flow (100) may have turned down but continues to signal accumulation.
Intermediate: Bullish above 1155.
Long-term: Bullish above 1000.
The University of Michigan index of consumer sentiment rose to 103.8, from 92.6 in December. (more)
The yield on 10-year treasury notes retraced to 4.138%.
The intermediate trend is up and likely to re-test resistance levels at 4.4% to 4.5%.
The primary trend is up. A close below the September low of 3.93% would signal reversal.
New York (13.00): Spot gold tested support at 400 before recovering to $402.00.
The intermediate trend is down.
The primary trend is up.
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Short-term: Bullish above 3350. Bearish below 3293 (Jan.12 low).
Twiggs Money Flow (100) is headed for a test of its 3-month support level.
The primary trend is up. A fall below 3160 (the October 1 low) would signal reversal.
Intermediate term: Bullish above 3350. Bearish below 3160.
Long-term: Bearish below 3160.
The 11 sectors (10 + Property) are in various market stages. Relative Strength (xjo) measures the performance of each sector relative to the overall index.
- Energy [XEJ] - stage 2 (RS is rising)
- Materials [XMJ] - stage 2 (RS is level)
- Industrials [XNJ] - stage 2 (RS is rising)
- Consumer Discretionary [XDJ] - stage 3 (RS is falling)
- Consumer Staples [XSJ] - stage 3 (RS is level)
- Health Care [XHJ] - stage 1 (RS is level)
- Property Trusts [XPJ] - stage 3 (RS is level).
- Financial excl. Property [XXJ] - stage 3* (RS is rising)
- Information Technology [XIJ] - stage 2 (RS is level)
- Telecom Services [XTJ] - stage 2 (RS is level)
- Utilities [XUJ] - stage 2 (RS is rising)
A stock screen of the ASX 200 using % Price Move (1 month: +5%) fell to 25 stocks, from 50 a week earlier. The highest reading was 131 on April 11, 2003 and the lowest, 8 on March 14, 2003. Prominent sectors are:
- Oil & Gas Exploration & Production (4)
Some are hot, others cold;
Some are firm and strong, others submissive and weak.
Some rise up while others fall down.
Therefore the Sage:
Rejects the extreme, the excessive, and the extravagant.
~ Lao Tse: Te-Tao Ching
Dow Jones Industrial Average and S&P
500 have been added to the list of Indexes.
If you screen US stocks you can now restrict your search to components of either of these indexes.
You can now view back issues at the Daily Trading Diary Archives.