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Strategies & Market Trends : Sharck Soup

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To: GREENLAW4-7 who wrote (33842)	8/31/2001 10:22:07 AM
From: StormRider	Read Replies (1) of 37746

10:19 ET Nasdaq Composite : -- Technical -- Stages decent reversal off the low following the data with the move supported by the oversold intraday technical readings. However, continued posture above the area that stymied gains yesterday (1795) is needed to keep the bullish bias intact. Next resistance is at 1814/1817 area. While daily indicators, patterns and the higher Volatility Index reading (VIX), which we highlighted yesterday, suggest the potential for a near term bottom to be forming, the index has a ways to go to neutralize the latest wave of selling. Increase in volume on gains next week would bolster this outlook.

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