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OI Technical Staff : 4/24/2006 9:59:59 PM

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Jane Fox : 4/24/2006 3:35:53 PM

It is no longer time to be short. The bulls are gaining momo.

Jane Fox : 4/24/2006 3:35:26 PM

It is no longer time to be short. The bulls are gaining momo.

Jane Fox : 4/24/2006 3:34:37 PM

VIX and TRIN to new daily lows confirming the spike in bullishness.

Jane Fox : 4/24/2006 3:34:09 PM

BIG spike in the AD volume and AD line to match the TICKS.

Jane Fox : 4/24/2006 3:32:56 PM

TICKs +800

Jane Fox : 4/24/2006 2:49:14 PM

Ok so what else do we have? Ad line is a bearish -950 but in an upswing. The TRIN is a bearish 1.3 but flat. Then we have price but that is also not saying much. DOW is making a double top, RUT is flat, S&P has made a lower high but not by much and NAZ has also made a meek lower high. (based on the futures though)

Jane Fox : 4/24/2006 2:46:01 PM

Of course on the other hand AD volume is making new daily lows telling me they do...

Jane Fox : 4/24/2006 2:45:18 PM

THE VIX continues to make lower lows and highs telling me the bears don't have control of this market.

Jane Fox : 4/24/2006 2:28:39 PM

Dateline WSJ Explosions rocked the Egyptian resort city of Dahab on Monday night, causing numerous casualties, police said. A doctor put the number of dead or wounded at 100. In July, the Egyptian resort Sharm el-Sheik was bombed. That attack was aimed, like last summer's attacks on London's transportation system, at a close U.S. ally whose help has been crucial to U.S.-backed initiatives in the Middle East.

Jane Fox : 4/24/2006 2:07:45 PM

The bears should be watching the VIX - it is making new daily lows.

Jane Fox : 4/24/2006 2:00:01 PM

When we have a bearish day this is what happens quite often because the bulls are trying to reassert their dominance. Link

Jane Fox : 4/24/2006 1:52:51 PM

$RUT ad line 409/1274 better than earlier but still bearish.

Jane Fox : 4/24/2006 1:20:04 PM

Ok all bullish bets are off now AD volume to new daily lows - if long I suggest to take your profits and head for hills.

Jane Fox : 4/24/2006 1:10:14 PM

The bulls are pressing hard here and they may have enough energy to pull this market back up again.

Jane Fox : 4/24/2006 1:00:27 PM

S&P futures just made a new daily high by one tick confirmed by the new daily low in the VIX.

Jane Fox : 4/24/2006 12:59:39 PM

VIX to new daily lows and the TRIN is falling.

Jane Fox : 4/24/2006 12:59:19 PM

AD line as improved tp -830 and AD volume is rising. The bearish is no longer quite as clear as it was earlier.

Jane Fox : 4/24/2006 12:58:21 PM

TICKS +800

Jane Fox : 4/24/2006 12:23:07 PM

AD volume moving down and AD line rising would make one believe we are into chop but if you look at the level of the AD line you realize this may be chop but it is still very bearish and no time to be long. Link

Jane Fox : 4/24/2006 11:49:40 AM

$RUT ad line is 329/1350 nothing bullish about this for sure.

Jane Fox : 4/24/2006 11:27:09 AM

I find nothing bullish about this market today. Even the bullish MACD divergences I noticed earlier have been negated.

Jane Fox : 4/24/2006 10:49:35 AM

$RUT ad line is a bearish 358/1300

Jane Fox : 4/24/2006 10:48:53 AM

AD volume to new daily lows and if long I would be bailing.

Jane Fox : 4/24/2006 10:39:12 AM

TRIN is now testing daily lows as well. HMMMM

Jane Fox : 4/24/2006 10:38:36 AM

As a bear today I would be worried about the VIX hanging around daily lows. Always something to worry about isn't there?

Tab Gilles : 4/24/2006 10:31:56 AM

MUR daily chart for previous post. Link

Tab Gilles : 4/24/2006 10:28:42 AM

Murphy Oil (MUR) Pulling back after testing $54 Fibonacci Retracement, I highlighted last week. Link

Looking at the daily charts of $WTIC it hit a historical milestone $75 Friday and has backed off. Link

Daily MUR... I see at least a pullback to the 38.2% Fib/ 200-ma level near $50. Use this pullback to add to position. I like Jan '07 $45 calls. currently @ Bid $10.30/ Ask $10.70 Link

Jane Fox : 4/24/2006 10:27:18 AM

VIX just made a new daily low and the TRIN is falling but the bears still have the reins.

Jane Fox : 4/24/2006 10:14:38 AM

Gold is down $10.20 today after hitting a high of 644.50 overnight. This is becoming one volatile little puppy.

Tab Gilles : 4/24/2006 10:11:42 AM

Intel (INTC) Intel appears to be forming a bottom. Link

Apple releases new Intel based pc. Link

Jane Fox : 4/24/2006 10:11:22 AM

TRIN is now making new daily highs but the VIX is testing daily lows.

Jane Fox : 4/24/2006 10:06:25 AM

Here is your gauge today. As long as the AD volume continues to make new daily lows do not think long. Link

Jane Fox : 4/24/2006 9:55:51 AM

AD line as "improved" to -1055 but AD volume continues to make new daily lows making it very dangerous for the bulls.

Jane Fox : 4/24/2006 9:43:44 AM

This is becoming your no brainer type of day. Do not try long positions here. Link

Jane Fox : 4/24/2006 9:34:29 AM

VIX is well above it previous day high and TRIN is 1.62 confirming the bearish AD line/volume.

Jane Fox : 4/24/2006 9:33:43 AM

AD line is bearish -528 and AD volume is below 0 so the bears have the reins.

Jane Fox : 4/24/2006 9:11:07 AM

Dateline WSJ After trudging through the fourth quarter and breaking into a sprint early this year, the U.S. economy is supposed to be easing into a steady jog about now. At least, that is what the Federal Reserve and many economic forecasters expect.

But is growth slowing just enough to please the Fed and keep inflation in the bottle? Is the economy fading faster than expected, raising the prospect of higher unemployment later this year and creating headaches for Republicans in November's congressional elections? Is the economy even slowing at all?

The Fed isn't sure. It has let markets know that any change in interest rates beyond the quarter-point increase expected next month will be "data dependent," which is Fed speak for "we're waiting to see more numbers." That makes life interesting for economics reporters, but it can be maddening for others. Last week, the bond market got whiplash after a comforting government inflation measure one day was followed by a disconcerting one the next.

Jane Fox : 4/24/2006 9:00:53 AM

DAteline WSJ Following the sharpest rebuke yet of China's foreign exchange policy from the world's most developed nations, the chief of China's central bank Saturday defended the pace of the yuan's appreciation and challenged the economic orthodoxy being touted by Washington.

The Group of Seven nations -- in a statement issued following their meeting ahead of the International Monetary Fund-World Bank spring meetings in Washington -- singled out China to take action to move toward greater foreign-exchange flexibility. It is unusual for the group to be critical of individual countries in its official statement...

China revalued its currency 2.1% against the dollar on July 21, but the yuan has only appreciated a further 1.2% since. Critics maintain that the yuan remains undervalued by as much as 40% against the dollar. U.S. manufacturers and lawmakers blame the weak yuan for the soaring U.S. trade deficit with China, which reached a record $202 billion in 2005.

Zhou disputed that China's trade surplus with the U.S. is necessarily bad for either country. "China can say the status quo is good for the U.S. because we can invest in U.S. Treasurys and subsidize U.S. consumers," he said.

China recently surpassed Japan to have the biggest stash of foreign-exchange reserves in the world. China will not reveal the composition of those reserves, but it is believed that most are invested in U.S. government bonds.

Jane Fox : 4/24/2006 8:57:37 AM

Dateline WSJ Venezuelan President Hugo Chavez is planning a new assault on Big Oil, potentially taking a major step toward nationalization of Venezuela's oil industry that could hurt oil-company profits, reduce production and put further pressure on global oil prices.

Venezuela's Congress, made up entirely of Mr. Chavez's allies, is considering sharply raising taxes and royalties on foreign companies' operations in the Orinoco River basin, the country's richest oil deposit. Major oil companies like Exxon Mobil Corp. and ConocoPhillips of the U.S. and Total SA of France have invested billions of dollars there to turn the basin's characteristically tar-like oil into some 600,000 barrels a day of lighter, synthetic crude.

Mr. Chavez, a left-wing populist who favors greater state control of the economy, also wants to seize majority control of the four Orinoco projects and force private companies who run them to accept a minority stake, according to a top executive at state-run oil company Petrsleos de Venezuela SA, known as PdVSA.

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