US Trading Diary vom 03.07.2004

Seite 1 von 1
neuester Beitrag: 03.07.04 16:37
eröffnet am: 03.07.04 16:37 von: Parocorp Anzahl Beiträge: 2
neuester Beitrag: 03.07.04 16:37 von: Parocorp Leser gesamt: 625
davon Heute: 1
bewertet mit 1 Stern

03.07.04 16:37
1

13786 Postings, 7783 Tage ParocorpUS Trading Diary vom 03.07.2004

Trading Diary



New Diary Format

We are experimenting with a new format for the Weekly Trading Diary in order to speed up delivery times, improve the delivery of images (both charts and ads) and reduce the number of bounced messages (from firewalls and spam filters).

For the next few weeks the Weekly Diary will be published on the website at http://www.incrediblecharts.com/free/trading_diary/trading_diary.htm (it may be useful to save this address to your Favorites folder in Internet Explorer). You will receive a short email notifying you when the Diary has been published. Click on the attached link and the Diary will open in your default browser.

Please report any difficulties to support@incrediblecharts.com.



July 3, 2004These extracts from my daily trading diary are for educational purposes and should not be interpreted as investment advice. Full terms and conditions can be found at Terms of Use.

USA
The Dow Industrial Average broke through support at 10300 and we are likely to see another test of the 10000 support level. The overall pattern is one of consolidation around the 10000 support level: marginally lower highs at [c] and [e]; marginally lower low at [d]. This pattern can break out in either direction. Obviously, in an up-trend, an upward breakout is more likely but a possible reversal cannot be ignored. We may witness further marginal highs or lows and direction will only be clear when we have a breakout followed by confirmation, with a pull-back that respects the upper or lower border of the pattern.
Twiggs Money Flow is drifting lower.



The Nasdaq Composite displays a similar consolidation pattern to the Dow, with a consolidation between 1900 and 2000. 
Twiggs Money Flow is drifting sideways.


The same pattern also appears on the S&P 500. Breakouts will need confirmation before they can be relied upon. 
Twiggs Money Flow continues to signal distribution.


The point & figure chart shows the consolidation more clearly, with resistance at 1150 and support at 1080.



The NYSE Bullish Percent Index rose to 66.22%: making a weak Bull Confirmed signal.




Treasury yields

The yield on 10-year treasury notes is testing support, with a close on Friday below 4.50%. The Fed raised interest rates by a quarter percent as expected but undid the effect, to some extent, by uttering soothing words about increases at a measured pace. The yield differential (10-year T-notes minus 13-week T-bills) is still a healthy 3.2%.


Gold

New York: Spot gold closed up at $398.20. The metal has encountered resistance at the 400.00 level. The intermediate up-trend will require further confirmation, with a rise above Monday's high of 404.25.



 
Incredible Charts - now with US Data
  • AMEX, NASDAQ and NYSE data
  • OTC BB and Pink Sheet stocks
  • more than 500 market and sector indices

FREE trial - Click Here



ASX AustraliaThe recent retracement on the All Ordinaries encountered support above 3500; a bullish sign. An up-trend where troughs and preceding peaks do not overlap signals that buyers are dominant, with sellers unable to drive the index below the first line of support at the previous high (in this case at 3500). The reaction on Friday is also encouraging, with a weak close and strong volume signaling buying support.


The primary up-trend continues; though readers should bear in mind that we may still see a secondary correction later test support at 3450. Twiggs Money Flow continues to signal strong accumulation.
  
 

03.07.04 16:37
1

13786 Postings, 7783 Tage Parocorp...


http://www.incrediblecharts.com/free/trading_diary/trading_diary.htm  

   Antwort einfügen - nach oben