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• Say Goodnight Ma Bell

Hello Everyone,

This is a weekend unlike any other in the market since 1899. WOW. You don't hear that very often. Just exactly what makes this weekend so different?

There is no publicly traded company called AT&T. As of the close of business Friday, AT&T has successfully been acquired by SBC Global, a company that AT&T spun off about 20 years ago.

Not to worry, SBC will soon be changing it's name to ... you guessed it, AT&T and resume trading under the ticker symbol "T" on December 1st.

This week we saw a pause in the rally and then Friday we saw another gain to four year highs on the S&P 500. It is quite possible that the DOW is headed for all time highs and we may see new highs on the S&P as well.

Our favorite "inside peek" chart shows there is still room to the upside.

If we can stay out above the last trading range, I am looking for the Nasdaq 100 bullish percent index to hit 70 before we might see more resistance.

This week, as expected, we see stocks once again emerging above their respective moving averages and also as expected, we see the longer term moving averages showing new highs as well.

The short term pause this week is evidenced by the 20 day numbers, and the 200 day finally caught up with the market.

So far 52 of the NASDAQ 100 are even or UP for the YTD, and the DOW 30 has 14 up on a YTD basis,. These numbers are slightly better than last week on the NASDAQ and the DOW.

But most importantly... look at the internals.

Strong across the board. Advancing issues, shares are rocking and new highs are beating new lows handily. As a side note the OTCBB did not do as well this week.

Markets like this could make for a brighter than expected holiday shopping season.

Be sure to read Jeffrey's Technical Report for this last week, he really nailed it. Also... sometime Monday he'll put up the report for this week. Don't miss it.

If you would like to know more about technical analysis. We really love to recommend the InTelYze Technical Analysis Educational CD ROM.

We know the guys that make this and they spent over a quarter of a million dollars building this fully INTERACTIVE course. The key word is ... yes, interactive.

It is the absolute best way to learn something and retain it quickly. Hands down.

The really funny thing about TA is that it rarely changes. This week we were looking through some of our best technical analysis books in our research lab and we discovered that the copyright was 1948.

Some things never change, they just get done more efficiently now with technology. Sure, you could do technical analysis in 1948 but I am quite sure that modern software will help you learn and apply TA to your trades much faster.

Until Next Time...

Best wishes and Good Investing,
Doug Newberry
The Investing Systems Network
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