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February 13, 2004
A fall below the recent low of 10417 would signal a re-test of support at 10000.
The primary trend is up. Resistance is at 11300 to 11350. A fall below support at 9600 would indicate the start of a down-trend.
The intermediate trend is down. Support is at 2000.
The primary trend is up. A fall below support at 1640 would signal reversal.
The intermediate trend is uncertain.
The primary trend is up. Expect strong support at 1000. A fall below 960 would signal reversal.
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.
Chairman Alan Greenspan says that the economy has turned the corner but the central bank will be patient in deciding when to raise interest rates. (more)
The yield on 10-year treasury notes is consolidating around 4.05% over the last 2 days.
The intermediate trend is down.
The primary trend is up. A close below the September low of 3.93% would signal reversal.
See Interest Rates for a discussion of the yield differential.
New York: Spot gold ended the week slightly lower at $409.90.
The intermediate trend is uncertain. Support is at 400.
The primary trend is up. A fall below $370 would signal reversal.
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Short-term: Bullish above 3350. Bearish below 3266.
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 level)
- Consumer Staples [XSJ] - stage 3 (RS is falling)
- 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 3 (RS is falling)
- Telecom Services [XTJ] - stage 3 (RS is falling)
- Utilities [XUJ] - stage 2 (RS is level)
A stock screen of the ASX 200 using % Price Move (1 month: +5%) increased to 36 stocks, from 21 last week.
The highest reading was 131 on April 11, 2003 and the lowest was 8 on March 14, 2003.
- Diversified Metals & Mining (4)
- Construction Materials (3)
but when there is nothing left to take away.
~ Antoine de Saint-Exupery.
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