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"Oops, I did it again."  At some point we just have to stop listening to
the Street's rationales for what it's doing to the market.

Today it was falling crude prices and some more economic numbers which
could be given a positive spin.  So it turned around, made about 6-7pts
within the first hour and coasted the rest of the day.  Rounded up,
volume was +10% above average, but my formula doesn't round before it
decides whether it was an Accumulation day--so it missed.

One aspect of all this dithering is volatility has fallen to very low
levels, as seen below.  Up one day and down the next doesn't give the
market much headway.

Did I mention I've pencilled-in a horizontal line at 1214, the highs
last December (last year!)?  I'm using that for the moment as a line in
the sand, a "resistance line" to see how the market behaves around it.
Does it have the gumption to take a stand in new high territory and hold
it?  Personally, I remain to be convinced.

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

 __<_     _<__     _|__     _|__     _<__     ___|     02/23
 __<_     _<__     __|_     _|__     _<__     ___|     02/24
 __|_     __     ___<     02/25
 _>__     ___     ___<     02/28
 __>_     _     __>_     ___<     03/01

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:  02/24/05 S&P:    1200
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.angelfire.com/or/paulrogers/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

... In a clear field you can disk forever.
___ MultiMail/MS-DOS v0.35

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