Charts on Near Term Uotrends Message Board

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Strategies & Market Trends : Charts on Near Term Uotrends

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To: Jibacoa who wrote (711)	6/22/2004 12:05:15 AM
From: Jibacoa	Read Replies (1) of 1404

Looking at the market index: The DOW was not able to go through its intra-day resistance at the 10,430 level and at 2.38PM started on a down course with somewhat increasing momentum in the final half hour of trading, but the volume remained low and the near term uptrend that started on May 25 still remains above its average lines. bigcharts.marketwatch.com The NAZ also had a downturn in the last 90 minutes of trading and closed near its intra-day L. The price is now below its short average line. bigcharts.marketwatch.com The S&P 500 had similar action. The price still remains above its average lines. bigcharts.marketwatch.com The S&P 100 also with a similar pattern. The price remains above its average lines. bigcharts.marketwatch.com The NAZ transportation index,although down for the day still remains above its April Hs. bigcharts.marketwatch.com Bottom line: Volume has remained low. Have to watch the DOW to see if it can hold its support at the 10,300 level, which is now about 70 points away.(The nearest resistance is at 10,340 and then at the 10,540 to 10,550 level.) While waiting for uncle Al and the FED to act and the situation on Irak with the June 30 date line getting close and the 2ndQ earnings reports starting to come out, will see which way things go.(My crystal ball is somewhat cloudy and can't tell for sure. <g>) Bernard

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