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----- Original Message -----
From: "Jim White" <jwhite43@xxxxxxxxxxxx>
To: <PivotTrader@xxxxxxxxxxxxxxx>
Sent: Saturday, January 08, 2005 5:42 AM
Subject: Next Week
>
> Last week I outlined a bearish scenario for the first week of the year. I
> expected weakness early in the week and weak bullish attempts near the end
> of the week and that is what we got..
> The extent of the decline was sufficient enough to confirm weekly high
> pivots for most sectors of the market and, on a daily basis, move many
> stocks into a 9 or 10 BUY condition. Near Impulse Theory is forecasting a
> change in trend for Monday - the question is - Will an up move be a new
leg
> in the Bull or a correction to an emerging Bear?
> First, let's consider the Total Market Model. It remains bullish however
the
> slope has flattened out and it won't take much more weakness to signal a
> reversal..
> The shorter term DJIA Composite Model has been bearish since 12/29 but is
> signaling a possible reversal for Monday.
> I have three measures for trend in the NDX 100, monthly, weekly and daily.
> All three have turned decidedly bearish.
> So for next week I expect a weak to moderate up move to Thursday/Friday
> where another Near Impulse point indicates a reversal. There are many
short
> term long candidates but I expect the best moves in the technical sectors
> like semis, software, computer products and communications. Biotech's and
> healthcare are expected to remain weak.
> In other markets, the Dollar rallied as expected last week contributing to
> the decline in gold. Next week I see a rally in the EURO. and gold stocks.
> The energy sector has probably completed most of it's weekly correction
and
> you should be looking for longer term entry points.
> That's it for now. Have a good trading week.
>
>
> Jim White
> PivotTrader.com
> Home of the Near Impulse Forecaster
>
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