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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/30/2001 3:58:26 PM
From: besttrader	of 37746

15:30 ET Dow -150, Nasdaq -87, S&P -18.58: [BRIEFING.COM] Barring a remarkable late day rally (which isn't happening), the major averages are going to close towards the worst levels of the day. With today's weak market internals and the notable absence of buy interest, the very near-term outlook for equties isn't promising. From a technical perspective, the charts will be ugly as the Dow will have broken support at 11,000 on a closing basis and the Nasdaq will likely close under 2,100. Pockets of buy interest are not easy to find though there is selected strength in homebuilding, health care and utilities. Technology is broadly weaker in addition to sell pressure on gold, oil drilling and steel. DJTA -0.5%... DJUA +0.3%... SOX -5.6%... XOI -0.1%... BTK -2.8%... Nasdaq 100 -4.5%... S&P Midcap 400 -1.6%... Russell 2000 -1.3%... NYSE Adv/Dec 1156/1876... Nasdaq Adv/Dec 1074/2716.

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