Basically today's action was a mirror image of Wednesday's.  Wednesday,
after a few minutes to get started, went straight up until a few minutes
before the close.  So now we're back to about where we began.

I'd like this to be the start of a correction, but volume was finally
below this year's average.  So there certainly wasn't an excess supply,
just unwilling buyers.  Well, I'd be an unwilling buyer too.  Still, if
you believe in the January Effect keep the number 1108 in mind.  Looks
like there'd have to be a major shock to have a negative month.

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

 __>_      ___      __>_      __|_      ___>     01/16
 _>__      ___      __>_      __|_      ___|     01/20
 __|_      ___      __>_      __|_      ___|     01/21
 _|__      __|_      __>_      __>_      __|_      ___|     01/22
 _|__      _|__      __>_      _>__      __|_      ___|     01/23

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

                                                           



... Baroque (n.): When you are out of Monet.
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