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Greenspan testifies later this week.  No, not on the CIA agent thing,
but to both houses of Congresscritters about the economy and interest
rates.  The Street is usually loathe to jump out ahead of what he might
say.  So while prices were off moderately on various news reports, NYSE
volume shrank to -14% below average.  This is fairly typical behavior.

While during pre-holiday light action when everybody sneaks away, any
slight imbalance in buy or sell orders can be accentuated and increase
volatility for the day, everybody's there this week, so I don't expect
them to allow the market to make similar moves.  If the market DOES move
significantly, I'd expect it to be "for cause", with reasonable volume,
and should gain our attention.

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

 __>_     _>__     __|_     __>_     __>_     ___>     07/12
 __>_     _>__     __|_     _>__     __>_     ___>     07/13
 __>_     _>__     __|_     __>_     __|_     ___>     07/14
 __|_     _>__     __|_     _>__     __     07/15
 ___     __|_     _|__     __     07/18

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:  07/01/05 S&P:    1194
Winner or Loser:  tbd                   By:     tbd

See my market tracking charts for '03-'04 and my investment strategy
study at my website(s):
http://www.xprt.net/~pgrogers/Pers.html
http://www.geocities.com/paulgrogers/Pers.html



Paul Rogers, paulgrogers{at}yahoo.com                       -o)
http://www.angelfire.com/or/paulrogers                   /\\
Rogers' Second Law: Everything you do communicates.     _\_V

... Positive: mistaken at the top of your voice
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