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To: The Freep who wrote (63911)	1/17/2003 10:36:18 AM
From: the-phoenix	Respond to of 209892

Freep: My take on Bradley turns is that Monday was a significant high and today is a minor low, (corresponding with a full moon, btw). A small bounce sideways to up from here will be followed by a much larger decline into the mid-March turn date. That is my "Big Picture" road map since the Dec 30th turn clearly revealed itself as a low. This also happens to be exactly how it is drawn (in blue) on Steven Williams' Bradley chart: geocities.com

To: The Freep who wrote (63911)	1/17/2003 11:14:08 AM
From: reaper	Read Replies (1) \| Respond to of 209892

more penetrating analysis from Briefing... 9:51AM Michigan sentiment lower than expected : The Univ of Michigan consumer sentiment index came in at 83.7 in early January, down from 86.7 in December and below the 87.0 consensus. This slight reversal of the last few months' uptick is not a great concern and is consistent with indications that the labor market remains sluggish. A significant uptick in confidence is unlikely until job growth picks up. 9:19AM Industrial production weaker than expected : Production fell 0.2% in December instead of the 0.2% increase that the market had expected; the capacity utilization rate fell to 75.4% vs the 75.7% consensus. Weakness was centered in the motor vehicles category which has been quite volatile and fell 4.7% in Dec after a 4.3% increase in Nov. Excluding this category, production rose 0.2%. This report is unlikely to have much impact as it shows only that manufacturing remains sluggish, but probably is not pointing to a new round of weakening. 8:30AM Trade Deficit $40.1 bln vs $36.4 bln consensus : Deficit was much wider than expected in November due to a 4.9% surge in imports; this could put some pressure on the dollar and possibly stocks as well, though upcoming production and consumer sentiment reports will be more important. trade deficit sucks. but that's not important; consumer sentiment and production matter. oh wait, those sucked too; well they're not important either then i guess. frankly, for all the grief that CNBC gets for being a bunch of permabull morons, Greg Jones is MUCHHH worse. he must be a legacy or somethin' <g> Cheers