Subj : Market Action To : All From : Paul Rogers Date : Fri Aug 29 2003 06:26 pm


Volume was -23% below average, as expected.  So I don't think we can
make too much of today's market action.

It may not stay there, but you'll notice the Summation Index is again
in the highest category.  That means while the S&P500 has been in a
horizontal trading range, NYSE stocks as a whole have been closing
higher more often than lower.  There is still a lot of money sitting on
the sidelines.  Recent data show only in July have investors in net
begun pulling money out of bond and income funds.

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

 __<_      |___      __|_      |___      __<_      __>_     08/25
 __<_      |___      __|_      _<__      __<_      __>_     08/26
 __<_      |___      __|_      _<__      __<_      __>_     08/27
 __>_      |___      __|_      _<__      __|_      __>_     08/28
 __>_      >___      __|_      <___      __>_      ___>     08/29

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:  08/12/03 S&P:    990
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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