A-SEL Holdings on 10/22/04
are:
Next
## Fund Bought %G/L
Trade
-- ----- -------- ------ ------
1 FSUTX
08/24/04 6.9
2 FSNGX
10/13/04 3.7
3 FSAGX 08/24/04
14.7
4 FSDPX 08/24/04 5.9
5 FSESX
09/23/04
3.6
===================================================================
Screen
1(MMR-SUMM Multi window file)
A-SEL(Select Family + SPRXX)Average :
From
the top:
1) The Family Average is in the lower Bollinger Band
(Negative).
2) The KST = 0.6 (Positive).
3) Family McClellan Summation
Index = 3604(Positive) (Neutral is +1900).
4) Family McClellan Oscillator =
-285(Negative).
5) Select Family Advance-Decline + Summation Indicator Status
= BUY on 08/20/04.
6) Money Market Rank (Acc 6-24) = 23 of 42
(Positive).
===================================================================
Screen
2(MWD-AVG Multi window file)
A-SEL (Select Family + Money Market) Family
Average:
Left to Right:
Monthly - The last candle is Red (Negative). Prices are in the upper
Bollinger Band (Positive). Stochastics and DMI are Positive. MACD, and MACD
Histogram are Negative.
Weekly - The last three candles are Red (Negative). Prices are in the upper
Bollinger Band (Positive). Stochastics, MACD, MACD Histogram and DMI are
Positive.
Daily - KST is Positive. RSI, MACD and MACD Histogram are
Negative.
===================================================================
Screen
3 (MWD-US30 Multi window file)
30-Year Bond Yields:
The current yield is 4.76%
Left to Right:
Monthly - The last five
candles are Red (decreasing Yields, increasing Prices)(Positive). Yields are in
the lower Bollinger Band (Positive). Stochastics, MACD, MACD Histogram and DMI
are Positive.
Weekly - The last three candles are Red (Positive).
Yields are in the lower Bollinger Band (Positive). Stochastics, MACD, MACD
Histogram and DMI are Positive.
Daily - Yields are in the lower Bollinger Band (Positive). RSI, KST, MACD
and MACD Histogram are Positive.
===================================================================
Conclusion:
Bond yields moved lower last week. The picture is the same as the last
three weeks. The weekly indicators have moved to levels that usually mark the
end of a trend and the daily indicators are starting to turn up. The daily
indicators have also displayed divergences. The downtrend is near its end.
The Select Family average moved slightly lower last week. Prices are still
at the top of the small down trending channel that began in January 2004. The
picture is unchanged from last week. The daily indicators have traced a lower
low suggesting a continuing of the correction. Prices may fall to the lower
daily Bollinger band, which is also the level of the middle weekly band. The
worse case is breaking the low on 8/12/04 to create a normal October low
followed by a rally that finally ends the correction that started in January.
The Dow, S&P, Russell 2000, and Select Family Average all moved lower
last week. The NASDAQ 100 moved higher. Dow is the weakest index and could drop
to a trend line through the lows on 05/17/04 and 08/06/04 at 9725.21 (-0.33%).
The S&P is in the middle of the small down trending channel that begin in
January. While the NASDAQ 100, Russell 2000, and Select Family Average are at
the top of their channels. The NASDAQ 100 is still in the upper daily Bollinger
band. The relative strength of the small caps is a positive. We are very near
the end of the correction that started in January and are about to start a rally
that should run through the end of the year.
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