Subj : Market Action To : All From : Paul Rogers Date : Tue Jun 24 2003 06:31 pm

Once again there was little action in the Market today.  Prices were
about flat, and volume was -6% below average.  But today I think the
Street put its considerations about the Market on hold.  Everybody's
waiting for the Fed to render its opinion about the economy.  A rate cut
is considered a given, that won't influence the Market much--a little
bit depending on whether it's a quarter or half point.  The Street wants
to see what the Fed has to say.

So the only "story" in today's Market Action is the Summation Index
finally turning down.  But it is so pegged that it's going to take a
long time to fall back to only "moderately positive".  It wouldn't
necessarily require a major fall in the Advance-Decline line, but that
would drop it fastest.  If the Advance-Decline line just got stuck at
zero, the Summation Index would slowly come back on its own, but it
would be slow.  It's function is to tell us when we're in a short-term
Bull/Bear Market, but it's pretty short term.

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

 _>__      __>_      __>_      _<__      _<__      ___>     06/18
 _|__      __<_      __>_      __|_      _<__      ___|     06/19
 __<_      _<__      __>_      __|_      _<__      ___|     06/20
 _<__      _<__      __>_      _>__      <___      ___|     06/23
 __<_      _<__      __>_      _>__      <___      ___<     06/24

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:  04/01/03 S&P:    858
Winner or Loser:  tbd                   By:     tbd

See my market tracking charts for '01-'02 and my investment strategy
study at my website(s):
http://www.xprt.net/~pgrogers/Pers.html
http://www.angelfire.com/or/paulrogers/Pers.html
http://www.geocities.com/paulgrogers/Pers.html
.... Why are you telling me this? ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .