Saturday, October 16, 2004
Issue Contents:
| 11:10 | Swing Scanner Results Friday October 15 closing data. |
| 11:16 | Market Statistics For Friday October 15 |
Friday October 15 closing data.
Click on the title above to expand this document.
Statistics for Friday October 15
Note: Statistics are compiled based on our custom symbol universe of the most heavily traded stocks.
| Symbols in Up Swings | 245 |
|---|---|
| Symbols in Down Swings | 535 |
| Up/Down Swing Ratio | 0.45 : 1 |
| Advancers | 61% |
| Decliners | 36% |
| Unchanged | 3% |
| Close > 20EMA | 61% |
| Close > 50SMA | 57% |
| Close > 200SMA | 44% |
| 20EMA > 50SMA > 200SMA (trend up) | 28% |
| 20EMA < 50SMA < 200SMA (trend down) | 32% |
Wrapping up the day, oil closed very near its all time high of $55/bbl for the November contract – we did note that the spread between November and December is starting to widen, so traders may be looking for, but may not receive, a short term pause in the near term.
Stock indexes closed within the lower intraday trading range of the last several days – leavining them open for further continuation on the downside next week, or at minimum a potential retest of recent lows.
Since there are no absolutes we’ll be hunting down potential turnaround candidates for the long side, and charts displaying weakness to capitalize on any further sell off. Have a good weekend everyone.