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Strategies & Market Trends : Guidance and Visibility

AAPL 275.30

+2.2%

Nov 11 3:59 PM EST

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To: ChrisJP who wrote (10354)	8/10/2001 10:19:28 AM
From: keithcray	Read Replies (1) of 208838

09:57 ET Nasdaq Composite : Despite the quick upside reversal the index accomplished relatively little with price drifting back to the middle of the yesterday's range. This same pattern of failing at minor resistances has been repeated in the semiconductor (SOX) sector and individual issues such as CIEN. While this does not rule out upside follow through, the lack of a more aggressive bounce off yesterday's low and the multi-month range bottom for Nasdaq (1939/1934) suggests the path of least resistance remains to the downside. If the Nasdaq is unable to hold at the above area, the door remains open to 1900/1890 (congestion, 62% of April/May rally).

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