May 11, 2000.Situation neutral. The Dow Jones Industrial Average closed at 10,545. The Dow successfully tested the 10,194 level yesterday, which is the 20-month exponential moving average. Bouncing near that low for the second time in 18 days, the Dow ran up 255 points off yesterday's lows yet faded into the close of trading today. The Dow closed overbought on the 30-minute chart (see the stochastics). The case for higher interest rates did not look so strong this morning on the release of a decline in April retail sales. Maybe the consumer is tapped out on his credit cards. More likely is that the average shopper has filled his home with so many gadgets he has to work more hours to pay for them, and he does not have the time to purchase any more new devices. After all, you can only drive an SUV with one hand, hold the cell phone with the other, and then what will you use to punch up stock quotes on the car quote monitor? The Dow stayed in its current trading range of 10,200 to 11,300. The Dow is not ready to stay above 11,000 yet, not until the Federal Reserve lowers interest rates, or Mr. Greenspan retires, but with new investors arriving by the SUV-load every day, there is a ton of investment capital waiting on the sidelines. Due to time constraints, all MACD, RSI, and STOCHASTICS are as of 3:45 PM
05-minute Dow chart
 20-period moving average 10,548
05-period moving average 10,552
MACD 8.93/10.23 negative
RSI 65.71 neutral
STOCHASTICS 55.22/71.43% negative
15-minute Dow chart
 20-period moving average 10,528
05-period moving average 10,560
MACD 23.71/23.97 negative
RSI 59.34 neutral
STOCHASTICS 72.07/74.10% negative
30-minute Dow chart
 20-period moving average 10,517
05-period moving average 10,565
MACD 17.41/4.94 positive
RSI 74.55 positive
STOCHASTICS 85.27/88.31% negative, over-bought
60-minute Dow chart
 20-period moving average 10,506
05-period moving average 10,549
MACD -5.25/-21.76 positive
RSI 48.06 neutral
STOCHASTICS 83.57/71.93% positive
Daily Dow chart
 20-period moving average 10,678
05-period moving average 10,525
MACD -88.37/-38.31 negative
RSI 46.25 neutral
STOCHASTICS 20.93/29.37% negative
Weekly Dow chart
 20-period moving average 10,643
05-period moving average 10,586
MACD -61.36/-37.58 negative
RSI 44.19 neutral
STOCHASTICS 48.19/50.01% negative
Monthly Dow chart
 20-period moving average 10,194
05-period moving average 10,536
MACD 670.50/798.70 negative
RSI 60.64 neutral
STOCHASTICS 49.80/62.03% negative

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