"Slip-sliding away."  Prices dropped a little today, on -11% less than
average volume.  If'n I was in the Bullish Camp I wouldn't be taking
much solace from that though.  The Oscillator is in definitely negative
territory, there is no support for the major indices by the broad market
on the NYSE.  As the Summation Index shows, we have been in very Bullish
territory, emphasis on the "HAVE BEEN".  We've fallen below the 20-day
Moving Average on prices, and the 50-day (1126) is in the sights.  When
we hit the 50-day you'll see some significant selling.  If you don't
want to be caught in the crush, the door is this way.

Of course, if you've been judging my attitude correctly you wouldn't be
hanging out in the wind.  The best I've been able to muster is an
acknowledgement that there's been a rally for the last 6 months.  But I
also said the move since mid-December was unrealistic, too far too fast,
and unsupported.  And "Bull Market"?  I never said so!

Of course, I COULD be wrong.  Ummm, NAW!

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

 __|_      _|__      __|_      _>__      __|_      ___<     02/17
 _|__      _|__      __|_      _>__      _|__      ___|     02/18
 _|__      _|__      __|_      _|__      _|__      ___|     02/19
 _|__      _|__      __|_      _|__      _|__      ___|     02/20
 _<__      _|__      __|_      _<__      <___      ___<     02/23

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

                                                           



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