Prices were up again today, but just marginally.  Remember, it takes a
25pt change, more or less, to be significant on its own.  But today
volume was above average for a change, +2%, but that's significantly
better than yesterday.

So, the question we have to ask, having been burned before by several of
these Bear Market Bull Traps, "Is this yet another?"  Well, maybe.  But
we have yet to surpass the recent March "high" around 896.  So we're not
blazing a new trail yet.  Then again, there's that Declining Tops
Resistance line around 922 today, and last winter's resistance levels
arounf 945.  To be classified as a Bull Trap we have to see the Market
make at least the appearance of a break-out, and I don't see that yet.

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

 __      _|__      __|_      __>_     04/09
 ___      _|__      __|_      __>_     04/10
 __      _|__      ___     04/11
 __>_      _      _     04/14
 __>_      _      ___>     04/15

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:  04/01/03 S&P:    858
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

                                                   



... Ignorance creates more miracles than divine intervention.
___ MultiMail/MS-DOS v0.35

---