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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/25/2001 10:35:47 AM
From: besttrader	of 37746

10:30 ET Dow -95, Nasdaq -36, S&P -12.87: [BRIEFING.COM] With a batch of economic data released at the top of the hour, the markets have extended early losses. April Durable Goods Orders were reported down 5%, well below the consensus expectation. Notable within the durables report were nondefense capital goods orders -- a monthly proxy for capital investment -- which fell 5.2%. This is an indication investment will remain a key economic concern. Separately, Existing Home Sales for April fell 4.2% from record levels in March. The drop was in line with consensus expectations. The Dow is nearing the triple digit loss range and the Nasdaq is working back towards another test of support around 2,230. Total traded volume remains very light. DJTA -1.1%... DJUA -1.4%... SOX +0.1%... XOI -0.3%... BTK -2.2%... Nasdaq 100 -1.9%... S&P Midcap 400 -0.3%... NYSE Adv/Dec 1162/1346... Nasdaq Adv/Dec 1309/1623. 10:00 ET Dow -39, Nasdaq -15, S&P -5.88: [BRIEFING.COM] Michigan Sentiment was released early again and the revised number for May is 92.0 which is slightly down from the initially reported 92.6. Though revised lower, the sentiment number continues to suggest increased consumer confidence relative to the month of April which registered sentiment of 88.4. Total volume traded is definitely on the light side ahead of this holiday weekend. The light volume can make for unusual volatility particularly towards the close of trading. Semiconductors continue to demonstrate strength behind Prudential's upgrade to the semiconductor equipment sector. The SOX now trades higher by 1.7%. DJTA -0.6%... DJUA -0.6%... XOI +0.1%... BTK -1.4%... Nasdaq 100 -0.6%... S&P Midcap 400 -0.1%... Russell 2000 +0.1%... NYSE Adv/Dec 1207/1091... Nasdaq Adv/Dec 1383/1317.

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