Subj : Market Action To : All From : Paul Rogers Date : Tue Sep 14 2004 03:12 pm


The market couldn't even get out of bed until noon, then prices rose a
bit and oscillated a bit, but there was really no movement to the
market.  I didn't even see a blip in momentary volume when prices
started to rise.  Closing volume was less than -1% below average.
That's not at all the sort of action we want to see as prices bump into
the upper resistance line of the year's trading range.  I'm quiet
contended to stand aside and see if it fails to penetrate.

Since there's nothing in today's market action to comment on, let me
remind you how to interpret the mini-charts below.  I like using a
four-point scale; that way one can't straddle the fence.  So from left
to right, as shown by the "-__+" header, the "trend marker" falls into
either a "very negative", "moderately negative", "moderately positive",
or "very positive" category for each day.  The trend markers show
whether the short term (mostly 5-days) trend is negative, "<", neutral,
"|", or positive, ">".  That's for the benefit of investors who have
money to put to work in the short term.  Longer term trends are
generally obvious from the attitude in my commentary.

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

 _|__     __|_     __|_     __<_     __|_     ___>     09/08
 __|_     __|_     __>_     __<_     __|_     ___>     09/09
 __|_     __|_     __>_     __<_     __|_     ___>     09/10
 __|_     _<__     __>_     __<_     __|_     ___>     09/13
 __>_     _<__     __>_     __<_     __|_     ___>     09/14

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:  08/24/04 S&P:    1096
Winner or Loser:  tbd                   By:     tbd

See my market tracking charts for '02-'03 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

Paul Rogers, paulgrogers@yahoo.com -o) http://www.angelfire.com/or/paulrogers /\\ Rogers' Second Law: Everything you do communicates. _\_V .... Bigger isn't necessarily better - take a look at Windows! ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .