Morse Code Wednesday, page-21

Just quietly, and without too much fan_fair, is the XJO(or more specifically her "offspring" reps) telling us that a "change is in the air" is upon us. What, with a lousy(as perceived by the markets) CPI figure today that quickly upset the FX guys and more specifically the Bankers ... pronounced with a W at the start ... we saw a brisk selloff that may give the Bears a little more hope of at least a reasonable pullback.

Looking at the Daily charts of those "offspring"(STW, BEAR and the SPI ... 2_hrly) nice setup in all three CCI'ss, S/T confirmation with the Daily Idiot MA and with the SP failing/supported from nice Fibs it is easy to get even more excited ... well for the moment. Weekly and Monthly Idiots are not so good(as you'd expect). Infact, the Monthly Idiot on both the XJO and STW will still turn "long" if we DON'T get another 100pt fall in the XJO within the next two trading days....hence both probably telling us that any fall is going to be short-lived.

Anyway, I'm still allowing myself to get a little bit 'excited' as a S/T bear... and besides, it close enough to "Up into April BUT Stay away from May" syndrome....or something like that?

P.S. .... (good)Goldies also reacted to the CPI figure(or they were going up anyway) as they had a good day. One little "zephyr", PRU which has have languished the other producers in this year's run, broke out of a 3 year basing range today ... and with some conviction as well. The immediate question is whether this break can be sustained, and what their 1/4ly report will say(that has to be revealed by Friday... but for some known reason Management has been stalling that release).

Anyway, I'll leave you BULLs alone with these XJO "Offspring" charts ...

STW ...



BEAR ...



and, finally, the SPI(2_hrly Chart) ...