Subj : Market Action To : All From : Paul Rogers Date : Wed Jan 07 2004 04:16 pm


The S&P, which I regard as the best single representation of "the
market", dropped after the open and stayed there all morning.  After
lunch it made it back to the surface, but didn't do much all afternoon.
The story today was the NYSE volume!  It only got above 1700Ms 3-4 times
all last year.  The DJIA fell, so the question is: was this a "Bearish
Divergence"?  Main Street isn't what moves so much stock, was Wall
Street "taking profits"?  Checking Up-Volume & Down-Volume they were
more or less even.  So it's not clear quite what's going on, but
something is!  Stay tuned.

I think this recent tear we're on is proceeding on an unsustainable
slope.  My support line is still back at 1086.

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

 __>_      _>__      __>_      _<__      __|_      ___>     12/31
 _|__      _>__      __>_      _<__      __|_      ___>     01/02
 __|_      __>_      __>_      ___<      __|_      ___>     01/05
 __>_      __>_      __>_      ___|      __|_      ___>     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:  11/24/03 S&P:    1052
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

.... Gee! How'd you ever get it to do THAT? ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .