Ask DrBob Message Board - Msg: 20043726

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Strategies & Market Trends : Ask DrBob

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To: Drbob512 who started this subject	4/20/2004 12:26:16 PM
From: Drbob512	Read Replies (1) of 100058

*** TA Update (intra-day) *** The markets are mixed with internals barely positive for the Nasdaq a/d and u/d vol, while they are slightly negative for the NYSE. The bonds are down again as yields are rising to 4.4% for the 10 yr notes, and they are probably in a range from a low of 4.2% to a high of 4.6% which they may reach in the next month, which will be a retest of last year's high (4.6%). The USD is up and still has a good chance of retesting 92 in the next few weeks as it trades in a range of 89-92. Gold and other precious metals are down sharply as they continue their slide against the rising dollar. Their weekly stochastics are still not bottomed out yet and a double bottom on the dailies would be welcomed by the bulls. Support for gold is still at 394 and 388. HUI has broken below support at 210 and next major support is 185-190. Energy is down slightly and may range between crude of 34-40 for the next 1-2 mos. If stocks fail to rally with good volume in the next 1-2 weeks, any bounce will fail badly, perhaps leading to a sharper decline in May.

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