Subj : Market Action To : All From : Paul Rogers Date : Fri Jul 18 2003 07:03 pm


Prices were up nicely today--nearly but not quite making up what it lost
yesterday.  The fly in the ointment is volume was -5% below average,
nearly -20% below yesterday's volume.  So buyers didn't cause the prices
to rise, but restricted supply.  This is another day when the newsbots
are going to mislead Main Street about trading on Wall Street.  The
truth perhaps, but not the WHOLE truth.  Looks to me like we're still
correcting.

The Summation Index has just peeked back onto the chart; still beyond
the plot area, but at least visible in the margin.

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

 __<_      |___      __|_      _<__      _|__      ___<     07/14
 _|__      |___      __|_      __<_      _|__      ___<     07/15
 _|__      |___      __|_      __<_      |___      ___<     07/16
 _<__      <___      __|_      __|_      <___      ___<     07/17
 __<_      <___      __|_      _|__      <___      ___<     07/18

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

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