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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject6/29/2001 7:09:57 AM
From: helius   of 37746
 
Nasdaq 2101 pivot Friday
End of quarter window dressing started early & will continue today. Microsoft buying eupharia reached climax. GE/Honeywell rekindling of hopes helped. Now Honeywell part of news has turned negative , MSFT still a little more remains. Window dressing last day continues and Friday will be a high volume day.
Nasdaq expected to open flat to positive(max 2137) on PMC-Sierra +ive reaction to warning. retrace back to pivot 2100-2106 during the day and reverse towards 2130/50 to end 2106-2121 with upside potential of 2187 early next week , best guess close 2115.Less likely scenarios is , if 2100-2095 breaks support at 2084/67 with upto 2017 potential early next week. Similar pivot on the Dow is at 10495 with 10615 resistance and 10444 support to 10400 potential.
We off course covered our shorts yesterday at 2106 as posted and are content to play intra-day only for the moment.
eufinancial.com
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