Subj : Market Action To : All From : Paul Rogers Date : Tue Jan 07 2003 05:34 pm

It's clear some of the President's plan was leaked yesterday.
Yesterday's stories said it would be $600B, and today it's $674B.  I
think it remains to be seen how the Street will finally judge the
proposal.  That's going to count some, but in the end what happens to
the economy is really what matters.  He's got everything on the line
with this!

But I really don't like today's Market Action!  Volume was up +25% above
average, but Prices were off, not a lot.  There weren't enough willing
buyers for all the stock that came to market, so some was sold at lower
prices.  That's not Bullish!  I think we have to get up close to the
recent 940 top before we have a correction to keep this Horizontal
Trading Range going.  Then I wouldn't be alarmed to see Prices fall to
875 again.  If we turnaround here, then reaching 875 again would be
ominous.  Horizontal isn't up, but it isn't DOWN!  The longer this goes
on, the better.

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

 __<_      <___      _<__      _<__      __|_      __|_     12/31
 ___>      <___      __<_      _<__      __>_      __|_     01/02
 _>__      <___      __<_      _<__      __>_      __|_     01/03
 __>_      |___      __|_      __<_      ___>      ___|     01/06
 _>__      |___      __|_      ___<      __>_      ___|     01/07

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: BUY        Date:  01/02/03 S&P:    909
Winner or Loser:  tbd                   By:     tbd

See my market tracking charts for '01-'02 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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