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DJIA update 11/12/03


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#1 btreehouse

btreehouse

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Posted 12 November 2003 - 08:20 PM

In the last udpate of 11/05/03, it was suggested that the market would not stray far in either direction over the next 8 trading days or so. More specifically, my database indicated it was likely the DJIA would stay within a 350 point range and so I suggesed that the green trend lines presented in the 11/05/03 update would still contain the DJIA.

With the close of 9820.83 on 11/05/03 and a close today of 9848.83, it would seem like the DJIA has not moved much at all. So far the intraday print highs and lows since 11/05/03 have been within that 350 point range.

9903.57 on 11/07/03 for a high.
9719.05 on 11/11/03 for a low.

I have still not elected to take any positions but I thought I would point out today's high NYSE tick. For the record, a chart update of my indicators is below and a chart of the daily DJIA and NYSE tick below.

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The DJIA, tick chart pretty much illustrates what I think is likely to happen over the next few days to a week. With higher price, the daily tick close needs to be below 1083.

While higher price may be expected, the markets remain in a precarious position as illustrated by an updated chart of the ratio adjusted McC Osc and Summation below.

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Good luck,