04/28/06 Market Update

Stocks:

The broad market turned down early last week but, remained above its intermediate term rising bottoms trend line. The oscillator tuned up on Friday allowing for another attempt at the highs. As the trend line is intact so the %R remains above its trending horizontal. On the short term there remains some, all be it little, upward possibilities.

Value Line Geometric -- Daily

Bonds:

The 30-Year U.S. Treasury made a new low on Thursday; but, the stochastic oscillator and the RSI did not confirm these lows. Both indicators posted divergent higher lows from the bond prices and in all likelihood; we have seen the low for bond prices for the next few months.

30-Year U.S. Treasury

Gold:

The XAU continues to march above its rising trend line. The price on Friday also managed to penetrate above the declining Gann grid line. The oscillator remains near over-bought territory but has room for an upward move. Next week should see some gains for the precious metals.

XAU -- Daily

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