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Strategies & Market Trends : Sharck Soup

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To: besttrader who wrote (34404)	9/5/2001 3:07:48 PM
From: StormRider	Read Replies (1) of 37746

15:00 ET Dow +12, Nasdaq -10, S&P -2.24: [BRIEFING.COM] The market has recovered back to positive territory with the Dow leading the charge although the Nasdaq has slipped back off the high. The ability to stabilize after the initial bounce emboldened some investors to step in to do a little bargain hunting in the wake of the 120 point slump in the Nasdaq over approximately one trading session. The most recent upside extension came amid speculation that Microsoft (MSFT +3.1%) is reaffirming guidance. The ideal scenario for the tech dominated Nasdaq is for support at 1748 and more importantly 1734 to hold during the current slip. Similar levels for the Dow are at 9988 and 9945. Volume totals are strong today but market internals are still firmly negative despite the reversal. SOX -1.7%... DOT -2.1%... XOI +0.01%... BTK +0.2%... NYSE Adv/Dec 1226/1866... Nasdaq Adv/Dec 1212/2370.

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