Subj : Market Action To : All From : Paul Rogers Date : Fri Jan 09 2004 05:48 pm

Did I say we needed a correction?  Well, this wasn't it.  The Support
Line we need to test is now back at 1087.  But my formulas do call this
a "Distribution Day".  Volume was a little less than yesterday, but
since I can't really compare it to the moving average, let me just say
it was still higher than anything we've seen since last summer.

An employment report was blamed for the profit taking.  Unemployment was
down but analysis seemed to show it wasn't because jobs were up, but
disillusioned job-seekers giving up trying to find a job.  Well, that's
as may be, and it's a problem I've mentioned many times before.  But if
you read my commentary for the past week or so, it's seemed to me that
we are due for a correction.

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

 __|_      __>_      __>_      ___<      __|_      ___>     01/05
 __>_      __>_      __>_      ___|      __|_      ___>     01/06
 __>_      __>_      __>_      ___>      __|_      ___>     01/07
 __>_      __>_      __>_      ___>      __|_      ___>     01/08
 _<__      __>_      __>_      ___>      __<_      ___>     01/09

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
.... A waist is a terrible thing to mind. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .