December 10, 2003 (published at 4:00pm est. on Dec 9th for Dec 10th)
DOW's 10k level is tested as expected; the market, however, shrunk away from it to regenerate buyer interests at a lower support level. When it comes back to retest the 10k level again, it will be for the purpose of running through it for the higher target of 10130. Lending credence to this scenario is Fed's latest decision to leave yet again its interest rate unchanged at the 45-year low of 1%, as lower interest rate usually fuels and sustains the buying of stocks. Meanwhile, the low US rate also locks in the USD worth at the historical low level, making it that much less attractive to yield seekers. With the exception of CAD, most majors continued to firm up against USD during Tuesday session, posturing more advance to come in the next session as well. If buyers continue to go long with the majors, sellers would be better off to hold off their temptation at the next key technical levels of EUR 1.2650, GBP 1.7570, SWF 1.2420, JPY 104.80, AUD 0.7550, and CAD 1.2880. CAD's hourly buy signal has lid up after it was sold through the 1.3080 level early in the last session to threaten the 1.3150 resistance. With this hourly signal lighting the way, we will cautiously time our next buy entry at 1.3200. Stay tuned.

Bought CAD at 1.3080, and cut loss at 1.3130.
Bought GBP at 1.7470, RRR-50/+50pts, or settle profit by close.
Wait to sell JPY at 104.80, RRR-50/+200pts, or settle profit by close.
Wait to sell EUR at 1.2650, RRR-50/+200pts, or settle profit by close.
Wait to sell GBP at 1.7570, RRR-50/+200pts, or settle profit by close.
Wait to sell SWF at 1.2420, RRR-50/+100pts, or settle profit by close.