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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject5/4/2001 1:44:44 PM
From: besttrader   of 37746
 
13:35 ET Dow +62, Nasdaq +24, S&P +8.87: [BRIEFING.COM] The markets are modestly lower since the last update. As has been the case throughout the day, the current sell wave looks flat. At this point, it's more a matter of whether light volume on a Friday afternoon will rain on an impressive recovery off an ugly market open. The Nasdaq seems to have stalled at previously indentified near-term resistance of 2180 -- for the time being at least. Nonetheless, today's rally has been impressive in light of the weak employment data with the market lacking for alternative positive catalysts. Briefing.com continues to expect a half point rate cut when the Fed meets on May 15. The meeting is only seven trading days away which means investors are positioning themselves now. DJTA -0.1%... DJUA +0.6%... SOX -1.1%... XOI +1.7%... BTK +1.7%... Nasdaq 100 +1.5%... S&P Midcap 400 +0.4%... Russell 2000 +0.3%... NYSE Adv/Dec 1687/1245... Nasdaq Adv/Dec 1845/1674.
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