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 = -3.0
(Negative).
3) Family McClellan Summation Index = -1773(Negative) (Neutral is
+1900).
4) Family McClellan Oscillator = -37(Negative).
5) Select Family
Advance-Decline + Summation Indicator Status = BUY on 05/04/05.
6) Money
Market Rank (Acc 6-24) = 18 of 42
(Negative).
===================================================================
Screen
2(MWD-AVG Multi window file)
A-SEL (Select Family + Money Market) Family
Average:
Left to Right:
Monthly - The last three candles are Red
(Negative). Prices are in the upper Bollinger Band (Positive). Stochastics,
MACD, MACD Histogram and DMI are Negative.
Weekly - The last candle is Red (Negative). Prices
are in the lower Bollinger Band (Negative). Stochastics, MACD, MACD Histogram,
and DMI are Negative.
Daily - MACD and MACD Histogram are Positive. RSI
and KST are Negative.
===================================================================
Screen
3 (MWD-US30 Multi window file)
30-Year Bond Yields:
The current yield is 4.49%
Left to
Right:
Monthly - The last candle is 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 candle is 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). MACD and MACD Histogram are Negative. RSI and KST are
Positive.
===================================================================
Conclusion:
Bond yields moved lower last week. The picture is
the same as the last four weeks. Yields are still in the down trending channel
that began in June 2004 but are also at the bottom of a large up trending
channel that began two years ago. The larger channel should hold. Prices will
soon move up past 4.67%, which corresponds to the upper weekly Bollinger band
and outside the small down trending channel.
The Select Family average moved lower last week.
The picture is the same as the last four weeks. The Family McClellan Summation
has moved up from the bottom of its range in a Bull market environment
(excluding the 4-year cycle lows). Prices broke through then fell back below a
downtrend line that started in early March. The Family McClellan Summation moved
above +400 for one day, which is a positive, but staying above +400 for several
days would have been better. Prices still appear to have been in a correction
since January and should soon begin to trend up.
The Dow, S&P, Russell 2000, and Select Family
Average moved lower last week into their lower daily Bollinger bands. The NASDAQ
100 was higher last week and is at the top of a down trending channel. The Dow,
S&P, and Select Family Average are at the bottom of expanding triangles
while the Russell 2000 is at the bottom of a down trending channel. All the
indices are still in downtrends but appear to be forming a bottom for a final
2005 rally.
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