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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 693.77

-0.2%

Jan 13 4:00 PM EST

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To: Johnny Canuck who wrote (33824)	8/29/2001 2:50:57 AM
From: Johnny Canuck	Read Replies (3) of 69730

Dow 10222.03 -160.32 (-1.54%) Nasdaq 1864.98 -47.43 (-2.48%) S&P 500 1161.51 -17.70 (-1.50%) 10-Yr Bond 4.848% -0.084 NYSE Volume 998,975,000 Nasdaq Volume 1,434,462,000 EPC=0.80 Like Tim I expect us to test the April low at 1620 in the September/October time frame. I do anticipate a post Labor Day holiday rally though as the pros come back and rally the market in light of some evidence of a firming economy. I expect the market to then sell off as we get into the full swing of earnings warning season. As far I as I can tell we are going into a recession. Nothing, not even the Fed can stop that now. The last remaining area of strength consumer spending is starting to fail in light of the news of layoffs and corporate restructuring. 60 percent utilization on the semiconductor side as Clint mentioned would be classified as a recession in the wider ranging manufacturing economy.

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