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February 6, 2004
The primary trend is up. Resistance is at 10600 and 11300 to 11350. A fall below support at 9600 would signal reversal.
The intermediate trend is down. Initial support is at 2000, resistance at 2100, 2150 and 2300 (May 2001).
The primary trend is up. A fall below support at 1640 would signal reversal.
The intermediate trend is uncertain, with resistance overhead at 1155 and 1175.
Short-term: Bullish if the S&P500 is above 1155. Bearish below 1122, last Thursday's low.
Twiggs Money Flow (100) may have turned down but continues to signal accumulation.
Intermediate: Bullish above 1155.
Long-term: Bullish above 1000.
More than 80% of NYSE stocks are in an up-trend, the highest level in 10 years.
Non-farm payrolls grew by 112,000 in January, while unemployment fell to 5.6%, the lowest level in 2 years. (more)
The yield on 10-year treasury notes retreated to 4.089%, signaling weakness in the intermediate up- trend.
The primary trend is up. A close below the September low of 3.93% would signal reversal.
New York (13.00): Spot gold rallied to $403.20, after testing support at 400.
The intermediate trend is down.
The primary trend is up. A fall below $370 would signal reversal.
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Short-term: Bullish above 3350. Bearish below 3266.
Twiggs Money Flow (100) has broken below its 3-month support level, another bearish sign.
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 falling)
- 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 rising)
- Property Trusts [XPJ] - stage 3 (RS is level).
- Financial excl. Property [XXJ] - stage 3 (RS is level)
- Information Technology [XIJ] - stage 2 (RS is falling)
- Telecom Services [XTJ] - stage 2 (RS is level)
- Utilities [XUJ] - stage 2 (RS is level)
A stock screen of the ASX 200 using % Price Move (1 month: +5%) fell to 21 stocks, from 50 two weeks ago. The highest reading was 131 on April 11, 2003 and the lowest, 8 on March 14, 2003. Prominent sectors are:
- Casinos & Gaming (3)
that we don't take the time to enjoy where we are.
Days go by and we hardly notice them. Life becomes a blur.
Often, it takes some calamity to make us live in the present.
Then suddenly we wake up and see all the mistakes we've made.
But it's too late to change anything.
~ Calvin & Hobbes.
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