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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	7/6/2001 2:02:43 PM
From: besttrader	of 37746

14:00 ET Dow -226, Nasdaq -69, S&P -26.69: [BRIEFING.COM] The markets aren't looking very good here. Friday afternoons are notable for relatively light volume and the fact that this is a holiday week should only exacerbate the problem. Light volume can lead to late-day volatility and with the major averages situated the way they are a substantial break to the upside doesn't look like a great bet. Nonetheless, the Nasdaq has decent support in the 2,000 area which will be an area to watch as the afternoon wears on. If 2,000 should fail, look for follow up support around 1,974 which represents the bottom of the Nasdaq's last sell wave. Total volume continues to be light as the index is still shy of 1 billion shares with only two hours remaining to trade. The light volume today comes on the heels of yesterday's session which tallied the lowest total share volume of the year. DJTA -2.1%... DJUA +0.6%... SOX -7.9%... XOI -0.5%... BTK -2.6%... Nasdaq 100 -4.0%... S&P Midcap 400 -1.8%... Russell 2000 -1.8%... NYSE Adv/Dec 931/2029... Nasdaq Adv/Dec 962/2484.

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