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Employent data out this morning was below expectations.  So the Street
decided the Fed could consequently slow their rate hiking, and lower
rates would be good for stocks.  So prices rose steadily through the
morning.  (This is one of those things "Uncle Lou" always used to talk
about where bad news was good news.  Don't get carried away with such
thinking for any long term planning.)  Prices slowed their advance
during the afternoon, but rallied again before the close.  Greenspan was
talking, positively euphorically for him, about our twin deficits coming
under control with fiscal responsibility from Washington.  (Isn't that
an oxymoron?)

In the end, prices changed up enough to be significant on its own, and
volume increased to +14% above average.  That's an "accumulation" day,
even by my conservative formula.  As you can see below, the trends are
looking more positive.  Gotta hand it to my timing signal, looks like it
nailed this move.  There could be some resistance at the December highs,
1214 or so, but it shouldn't be strong.

Enjoy your weekend.

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

 __>_     __     ___|     01/31
 __>_     __     ___|     02/01
 __>_     __     ___|     02/02
 _>__     __     ___|     02/03
 __>_     _>__     __|_     __>_     ___>     ___>     02/04

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:  02/01/05 S&P:    1189
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

... We [0Me !U EACe. GVe uf YOUg AmM0UiA o+ Die.
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