Subj : Market Action To : All From : Paul Rogers Date : Tue Dec 31 2002 07:49 pm


Finally!  "That's a wrap!"

I wouldn't pay too much attention to all the shows you're going to see
recapping the year, especially those that suggest that this being the
third losing year in a row tells us about the future direction of the
Market.  If I would put any faith in anyone it would be in the Fed's
reports of a GRADUALLY improving economy.  But note!  They are only
reporting the data, not predicting.  Consumer Confidence is in part
reflected by the holiday retail action.  They thought the "soft spot"
was over, but maybe it's not.

I have pencilled in a possible "Support Line" at 875, and we're right
down to it.  It would be a good thing if the Street saw it that way.

Price     Vola-     Momen-    Volume    Oscil-    Summ.
Change    tility    tum                 lator     Index
 -__+      -__+      -__+      -__+      -__+      -__+

 _>__      _|__      _|__      <___      _>__      __|_     12/24
 _|__      _|__      _|__      <___      __>_      __|_     12/26
 _<__      _|__      _|__      <___      _|__      __|_     12/27
 __<_      |___      _<__      <___      _|__      __|_     12/30
 __<_      <___      _<__      _<__      __|_      __|_     12/31

Timing Signals:  I don't use or recommend timing signals, but they're
fun to watch.  If I did though, well, I might use something like this.
(Be warned!!  It tends to whipsaw around signal points!)

Last Signal: SELL       Date:  12/16/02 S&P:    891
Winner or Loser:  Loser                 By:     -19

See my market tracking charts for '00-'01 and my investment strategy
study at my websites:
http://www.xprt.net/~pgrogers/Pers.html
http://www.angelfire.com/or/paulrogers/Pers.html
http://www.geocities.com/paulgrogers/Pers.html

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