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Current Stock Market Conditions

(Updated on Friday 28 December 2002, 3:30 EST)
 

U.S. Market Psychology (New High New Low Ratios)

NYSE 88/11----Strongly Bullish
NASDAQ 115/78----Slightly Bearish
AMEX 19/11----Slightly Bearish
Bulletin Board 38/277----Strongly Bearish
TOTAL 260/377

Current News Psychology

U.S. Economy–Modestly Bullish
U.S. Markets–Slightly Bullish and Volatile
U.S. Events–Neutral
Foreign Economy–Slightly Bearish
Foreign Markets–Slightly Bullish
Foreign Events–Slightly Bearish

Calendar Psychology

<>    Window Dressing
    Selling The Losers (good shorting opportunities) 31 December 2001
    Buying The Well Known Winners (good one day long opportunities) 31 December 2001
    Buying Strong No-Name Winners Starting 2 January 2002

    Upcoming Economy Reports

    (Monday) 31 December: Chicago PMI at 10:00 a.m. (The Chicago Purchasing Manager's Report has strong psychological importance, and 50% marks the breakeven line between an expanding and contracting manufacturing sector.)

    (Wednesday) 2 January 2002: Auto & Truck Sales at 12:00 noon (lower average psychological importance) NAPM index at 10:00 a.m. (the National Purchasing Manager's Report is of strong psychological importance)

    (Thursday) 3 January 2002: Construction Spending at 10:00 a.m. (of low psychological importance because of monthly data volatility and large revisions of the report after it is released)

    (Friday) 4 January 2002: Average Workweek, Hourly Earnings, Nonfarm Payrolls, Unemployment Rate, all at 8:30 a.m. (These 4 reports make up the Employment Report and are of very strong psychological importance); NAPM Services at 10:00 a.m.

Holiday Psychology

    Buy The Winners which are being slightly sold off (at the end of the trading on 31 December) in anticipation of selling following rising prices after the holiday.


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