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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 692.76+0.5%Jan 26 4:00 PM EST

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To: Johnny Canuck who wrote (26008)4/5/2000 3:04:00 PM
From: Johnny Canuck  Read Replies (2) of 70070
 
Flat open. Trader finally getting off the sidelines in the afternoon.

Greespan making the expected statement to calm the market. Public still does not understand Greenspan's role is to promote stability not control the economy.

*****************************

13:57 ET Greenspan : The Fed Chairman downplays the need
for larger rate increases and denies that he's targetting stock prices. Most important comment is that he says the
market is expecting gradual rate increases -- Greenspan
typically doesn't comment on expectations unless he intends
to validate them. The message is therefore that more rate
hikes are on the way, but that they will continue to come in 25 bp increments.

***********************

Wed Apr 5 3:00pm ET - U.S. Markets close in 1 hour.
Dow 11086.97 -77.87 (-0.70%)
Nasdaq 4271.55 +122.66 (+2.96%)

S&P 500 1501.13 +6.40 (+0.43%)

NYSE Volume 896,202,000
Nasdaq Volume 1,553,246,000

30-Yr Bond 5.787% +0.05

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