US Indexes
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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 retreated 0.3% to 9293 on average volume, signaling continued uncertainty.
The intermediate trend is up.
The primary up-trend is up.

The S&P 500 lost 1 point to close at 1010.
The intermediate trend is up.
The primary trend is up.

The Nasdaq Composite rallied 0.5% to close at 1677, testing the recent high.
The intermediate trend is up.
The index is in a primary up-trend.

The Chartcraft NYSE Bullish % Indicator increased to 75.04% on June 17.

Market Strategy

Short-term: Long if the S&P 500 is above 1000.
Intermediate: Long if the S&P is above 1000.
Long-term: Long - the S&P 500 primary trend has turned upwards after two bull signals: the March 17 follow through day and the April 3 NYSE Bullish % signal.

Eastman Kodak
The photographic film-maker halved its' second-quarter earnings forecasts, blaming SARS for slow sales in Asia. (more)

ASX Australia

The All Ordinaries retreated 19 points to close at 3058 on lower volume. The index appears headed for a re-test of support at 3050.
The intermediate trend is up.
The primary trend is up.

The monthly Coppock indicator has turned up below zero, signaling the start of a bull market. 
Twiggs Money Flow (100) signals accumulation.
MACD (26,12,9) is above its signal line; Slow Stochastic (20,3,3) has crossed to below; and Twiggs Money Flow (21) signals accumulation, having completed two bullish troughs above zero.

Market Strategy

Short-term: Long if the All Ords is above 3050.
Intermediate: The primary trend has reversed up; Long if the All Ords is above 3050.
Long-term: The primary trend reversal has confirmed the March 18 follow through signal. Long if the All Ords is above 3050.

Bank of Queensland [BOQ]
BOQ is in a fast upward trend but has broken the intermediate trendline - twice in the past few days.

Twiggs Money Flow (100-day and 21-day) is neutral; MACD (26,12,9) has crossed below its signal line.
Relative Strength (price ratio: xao) has declined from its peak at the start of June.

The trendline break is in the form of a flag pattern, normally a continuation signal.
Volume has dried up on the latest down-swing, signaling the likelihood of an upward breakout.

A break above the upper border of the flag will be a bullish signal; and may present short-term traders an opportunity to increase their long position.
A break below the lower border of the flag will be bearish and may signal a return to the primary trendline.

Caltex [CTX]
Caltex is consolidating after a fast rally, from [b].
The previous two rallies were both followed by periods of sideways consolidation, rather than a sharp correction back to the primary trendline.

Twiggs Money Flow (100-day and 21-day) signal strong accumulation; MACD (26,12,9) has declined but is still above zero.
Relative Strength (price ratio: xao) has declined from its May peak.

Equivolume indicates heavy resistance at 2.80 to 2.85 with an over-square bar at [4].
Resistance continues with the broad bar at [6].

Resistance may not continue for the same length of time as the earlier consolidation periods; we are now in a bull market. 
A rise above 2.85 will be a strong bull signal.
A fall below 2.50 will be bearish, signaling a re-test of support at the primary trendline.

Understanding the Trading Diary has been expanded to offer further assistance to readers.

Colin Twiggs

A good plan today is better than a perfect plan tomorrow.

~ General George S. Patton.

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