xjo ...

Hmmm... the last couple of months have been challenging for traders as the Market waits breathlessly on whether war or not in the Middle East and the implications globally ... the world will be changed forever if this occurs.

Also, the endless speculations this way and that as to the US economic recovery has everyone dizzy trying to get their head around the forecasts that seem to change by the minute.

For some, it has all been too much and characterised by the 'dummy spits' followed by empty seats ...

Technical traders have at least the advantage of charts allowing the macro view and have been noting the current trends which translate more into that which the Markets (and accordingly individual blues) are NOT doing.

Traders know that the biz is not about endlessly chasing anything that is moving ... there is a time to trade and a time to park it ... no shame here.

Those who post charts have been saying as much about this as any other ... an analysis which is translating into a NEUTRAL view is just as valid but not understood by some here ...

IMHO this is likely to continue into 2003 with the UN now publicly stating no confidence in Iraq's WMD's declarations ... the pendulum is swinging.

The XJO chart demonstrates the issues ranging between solid support/resistence and the Fib(23.6%)and looks like this ...


Cheers ...


This is only my view ... read the red stuff.