Is jjb sending out fx pivots Moony?

no i think hes away chiro

exactamont moon..first post i saw of dolly got me clicking the nae to see membership date.

So I continue to ignore all expt those i know. can't be arsed with the loser and lurkers anymore.

.

jeez you guys have been busy. Top of the afternoon to you all.

duplicated

no i would go along with more down insider..just cos everyone is looking to buy dips..they have been well trained these last 18 months

more down of course to complete the e wave and 5th on the daily chart 9550/70ish.

The major stock indexes continued their declines of last week, with all three major indexes, the Dow, S&P and NASDAQ, closing beneath their respective 200-day moving averages. The S&P also closed beneath the mid-channel of the parallel trend channel formed by the selloff from its March 5 high and beneath the 61.8% retracement of the rise from the May 12 low. We said Friday night that we wanted to press the bearish case coming into todays session and the markets decline accommodated our stance.




The same near-term bullish divergences we discussed in terms of breadth and ticks however, have not been resolved. Both NYSE and S&P 500 only breadth were slightly positive today, despite the down close in both the Dow and S&P. Likewise, NYSE ticks have so far failed to register a downside reading of greater than minus 1091, the kick-off reading to wave three down on July 1. And the daily charts of the Dow and S&P look like five wave declines from the late June highs. Finally, the high-beta indexes, such as the NASDAQ and its technology subcomponents, were stronger today on a relative and absolute basis, which suggests the decline from the late June highs may be in its latter stages. The combination of these near term technical factors suggests that a short term market low is fast approaching, which should mark the end of a five wave decline from the late June highs. This low should lead to an A-B-C rally to correct the selloff of the past three weeks.

The Dow and S&P both ended the day on a weak tone, so tomorrow mornings session will be important in helping us determine whether the five wave decline is complete or whether there remains a bit more selling pressure before the A-B-C rally starts. The above chart shows the subdivisions of the decline from the late June high in the S&P. The pattern is the same for the Dow. The best interpretation of the retreat is that at least one more down leg will unfold before wave (v) is complete. When finished, this leg lower should mark the bottom of Minute wave i (circled) down and lead directly to wave ii (circled) up. Based on internal wave relationships the S&P has support surrounding the 1091 level, though prices could move a bit lower (but we will look for signs of low near 1091). The equivalent support target for a bottom in the Dow is 9976-10,000. If these support levels are breached in any meaningful manner, selling pressure may become intense.

If the S&P pushes above the wave i of (v) low at any time, which is 1108, then the five wave decline from the June 25 will have already ended (Minute wave i (circled) down) and the A-B-C rally will be underway. The equivalent level in the Dow is 10,172. A push above there would indicate that Minute wave ii (circled) up was underway. The S&P would then be expected to rally into the 1115-1127 area, while the Dow should push up into the 10,225-10,325 area. We will narrow these ranges as we see the pattern development within wave ii (circled) and are able to make some Fibonacci-based wave projections. The rally, once it starts, should last at least a week.

what time does Ali G start gobbing off anyone?

7pm i think

Alan Greenspan Speaks! Tuesday - Jul 20, 2004

2:30 PM ET : Federal Reserve Chairman Alan Greenspan to present Fed's second monetary policy report to Congress for 2004, before the Senate Banking Committee, in Washington .

Speech Highlights: Federal Reserve Chairman Alan Greenspan is scheduled to present the second monetary policy report to Congress (the first was delivered in February). He addresses the Senate Banking Committee at 2:30 p.m. ET. Market players will nervously be watching whether or not the Fed chairman will reveal any new thoughts on the inflation outlook or the pace at which interest rates will be increased in upcoming months.



Sources: A special thanks to marketnews.com for providing the scheduling information for the speeches

Alan Greenspan Speaks! Tuesday - Jul 20, 2004

2:30 PM ET

I can't wait.......

me too he might drop dead if were lucky

CAIRO (AP)--U.N. weapons inspectors will return to Iraq in the coming days following an official invitation from the new government, the head of the U.N. nuclear watchdog said Tuesday.

Mohamed ElBaradei, director-general of the International Atomic Energy Agency, told reporters in Cairo that Iraqi Foreign Minister Hoshyar Zebari had formally asked his agency to return.

"The return of U.N. inspectors to Iraq is an urgent necessity; not to search for weapons of mass destruction but to write the final report about the nonexistence of (such) weapons...in Iraq, which will enable the lifting of sanctions," he said.

The inspectors will be sent in the next few days, ElBaradei said.

U.N. inspectors left Iraq just before the war began in March 2003, and the U.S. refused to allow them to return, instead deploying its own teams to search for weapons of mass destruction.

ElBaradei said the coalition forces are not mandated to prove or negate that Iraq had WMD.

"The sole mandated authority is the IAEA and the international inspectors will continue the mission they started before the invasion," he said, adding that its mandate does not end until the final report is submitted. Following that report, sanctions imposed on Iraq can be lifted.


(END) Dow Jones Newswires

July 20, 2004 12:02 ET (16:02 GMT)

Howdy pardners

alright hedge

nice thread!.

any of you fine guys and gals interested in playing the investment game
i'm sure you have seen the thread. It would be great to add another team
to the game and 'The Bucket Shop Team', would be interesting! a max of 10 players.
If not oh well and all the best.

-Goldie-
:-)