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Index Trends 1/9/04


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#1 Porter

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Posted 09 January 2004 - 10:26 PM

Monthly Trend Value 12 (running uptrend) Weekly Trend Value 12 (running uptrend) Daily Trend Value 11 (running uptrend) 45-min Trend Value 6 (weakly trending up) Turtle Trend (LT) 4 (running uptrend) SPH Trend ..........Q......M.....W.....D.....45' SPH....U......U......U.....U......U Value..3......3......3...... 2.....0 ------------ SHORT TERM TRENDS Opening Range Trend Daily--Down Weekly--Up Globex 45-min Trend Questionable 135-min Trend Questionable ------------- Bollinger Band Trend 10-day Up 7-day Up ----------- Moving Average Trend Mason-Dixon (NDX 200H) Up Gator (SPX 13D+8) Up Mallory (NYA 4 Up SB (SPX 75D) Up Chandelier Trend Zweig (MID5%) Up Stox (NAZ9%) Up Junk (ML1%) Up --------------- Intermediate Momentum Indicators NY ITBM Up NY 10D NH% Up ND 10D DEAD Up ND BP RSI Up NY Vol McSum Up ND Vol McSum Up Comments The Compx made a new rally high. The MID made a record high. The Merrill Lynch High Yield Corporate Bond index made a record high. Overbought conditions were worked off. The 45-min trend in the spoos is in question. Price may spring the Friday morning low or may continue down to turn the trend down. Porter

#2 Porter

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Posted 11 January 2004 - 11:26 PM

The Globex 45-min trend for the spoos turned down. The Globex 135-min trend for the spoos will likely turn down soon. While these are short term trends going against the longer term uptrends, I think they should be respected until there is some evidence that they might weaken. The first thing to look for is whether the spoos can rise above the Friday morning low of 1121.5/SPH in the first 45minutes or above 1/8 low of 1123.8/SPH in the first 135 minutes of RTH trading. If it cannot do either, the bears are in short term control. Porter