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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject5/10/2001 2:34:32 PM
From: besttrader  Read Replies (1) of 37746
 
14:35 ET Dow +54, Nasdaq -11, S&P +1.72: [BRIEFING.COM] Market has struggled to get anything going in the afternoon session as investors have been lacking conviction... That point is made clear in the relatively light volume at the NYSE and Nasdaq.... Moreover, the 11,000 level continues to be a significant area of resistance for the Dow... Earlier today, the blue chip average reached 10979, but couldn't muster the strength necessary to push through the psychological barrier as the pullback in the tech sector took some steam out of the broader market... The inability to do so likely disheartened a number of investors... Next week will be a telling period as traders will be watching for additional Fed easing to be the catalyst that prompts a sustained break of the 11,000 level... If resistance holds at 11,000 after a 50bp easing by the Fed, Briefing.com would expect more aggressive selling activity to ensue... NYSE Adv/Dec 1799/1194... Nasdaq Adv/Dec 1921/1776.
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