2003 Membership
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after all the data is in place and the free trial commences.
Subscription/Registration forms will be available from the start of the free trial period.
We will keep you informed of progress.
Trading Diary
January 27, 2003
These extracts from my daily trading diary are
intended to illustrate the techniques used in short-term trading
and should not be interpreted as investment advice. Full terms
and conditions can be found at Terms
of Use .
USA
The Dow closed down 1.7% at 7989 on strong
volume and appears headed for a re-test of the 7500 support
level.
The primary trend is down.
The Nasdaq Composite lost 1.2% to close at 1325. The next major support level is at 1200.
The primary trend is up.
The S&P 500 closed down 14 points at 847 and appears headed for a re-test of support at 768.
The Chartcraft NYSE Bullish % Indicator is at 54% (January 24).
The primary trend is down.
The Nasdaq Composite lost 1.2% to close at 1325. The next major support level is at 1200.
The primary trend is up.
The S&P 500 closed down 14 points at 847 and appears headed for a re-test of support at 768.
The Chartcraft NYSE Bullish % Indicator is at 54% (January 24).
Iraq
UN chief weapons inspector Hans Blix reports to the Security Council that Iraq is resisting efforts to disarm it: "Iraq appears not to have come to a genuine acceptance, not even today, of the disarmament which was demanded of it." (more)
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UN chief weapons inspector Hans Blix reports to the Security Council that Iraq is resisting efforts to disarm it: "Iraq appears not to have come to a genuine acceptance, not even today, of the disarmament which was demanded of it." (more)
Gold
New York: After peaking above 373.00 spot gold had retreated to $US 369.40 at 16:00.
New York: After peaking above 373.00 spot gold had retreated to $US 369.40 at 16:00.
ASX Australia
The market was closed for Australia
Day.
Market strategy
For further guidance see Understanding the Trading Diary.
For further guidance see Understanding the Trading Diary.
Short-term: Short. The Slow Stochastic and MACD are below
their respective signal lines.
Medium-term: Avoid new entries.
Long-term: Wait for confirmation of the
bottom reversal signal.
Colin Twiggs
A man who has never gone to school may
steal from a freight car,
but if he has a university education, he may steal from the whole railroad.
To educate a man in mind and not in morals is to educate a menace to society.
- Theodore Roosevelt.
but if he has a university education, he may steal from the whole railroad.
To educate a man in mind and not in morals is to educate a menace to society.
- Theodore Roosevelt.
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Author: Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.