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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: LemonHead who wrote (34485)	9/27/2001 11:00:23 AM
From: j g cordes	Read Replies (2) of 69003

re TQNT.. First Union initiated them as a mkt perform yesterday and Sonus warned blasting networking. The bounce they experienced set them up for a bigger relative fall on bad news in their sector. Technical support has been above 16 for the last 3 months and it dropped through that.. now testing support from April bouncing and mid June in 14's. Support below that is just above 10.. so 10.5-11 would be a classic downside test if this negativity continues to impact their market sectors.. not saying it will get there, just the TA scope. Jim

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