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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 691.97-0.3%Jan 30 4:00 PM EST

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To: Johnny Canuck who wrote (32505)5/29/2001 3:29:06 PM
From: Johnny Canuck  Read Replies (2) of 70336
 
Dow 11025.74 +20.37 (+0.19%)
Nasdaq 2176.27 -74.76 (-3.32%)
S&P 500 1268.41 -9.48 (-0.74%)
10-Yr Bond 5.507% +0.022
NYSE Volume 822,476,000
Nasdaq Volume 1,345,327,000

Not good. We have broken strong support at 2190 on COMPX. Minor support at 2150 and 2128. No real strong support till 2064.

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3:05PM ET Nasdaq continues to languish near its lows for the day while the Dow hugs the flat line. Software stocks continue to be pressured as concerns at Sun and EMC affect most any company selling into the enterprise IT market. Oracle (ORCL 15.54 -0.97) holding up relatively well despite Thomas Weisel Partners lowering estimates on the software giant. Storage stocks continue to get taken apart on the bearish EMC call. Also, that group rallied the strongest over the past few weeks, so not all that surprising to see it leading on the downside
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