Subj : Market Action To : All From : Paul Rogers Date : Thu Jan 09 2003 05:00 pm

And today the Street reversed on the daily news and bought stock at a
rate I'd call an Accumulation Day.  Prices were up +18pts, better than
yesterday's -13pts, and Volume was up +23% above average as compared to
yesterday's +16%.  So, it looks like the Bulls aren't ready to throw in
the towel just yet.  There wasn't anything momentous, just a positive
earnings report that is encouraging the Street that the Q4 earnings will
be good.

I still think we need to hit 945 before we correct again.  I've got a
major Declining tops line going back a couple years, see my Tracking the
Market page on the web, that we're approaching.  It's at 976 today,
creating a Pennant formation.  I think I'd just as soon the Market
didn't challenge it too soon.  Most technicians might be looking at a
shallower line.  In any event the day will come when the Market Action
will challenge the Technical formations that have been created by the
Bear Market.  As these fall one by one, it will indicate the end of the
Bear Market.

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

 _>__      <___      __<_      _<__      __>_      __|_     01/03
 __>_      |___      __|_      __<_      ___>      ___|     01/06
 _>__      |___      __|_      ___<      __>_      ___|     01/07
 _>__      >___      __|_      __<_      __|_      ___>     01/08
 __>_      _>__      __|_      ___<      __|_      ___>     01/09

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
.... Let us taunt it; perhaps it will become cross, & go away ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .