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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: Johnny Canuck who wrote (34611)	10/3/2001 1:39:12 PM
From: Clint E.	Read Replies (4) of 68381

Harry, We got the news that I was looking for to push the nasdaq above 1530... Feels good, for a change!!! =========================== Cisco, a technology bellwether, leaped $2.46 to $13.94 and pulled the market higher. The company's chief executive said he is comfortable with analysts' quarterly estimates for the world's largest maker of Internet networking equipment. The rally added to gains on Tuesday after the Federal Reserve cut interest rates for a ninth time this year to boost the economy. Wednesday's advance had gained momentum after Treasury Secretary Paul O'Neill said a legislative package to boost the economy after the Sept. 11 attacks could total up to $75 billion. This would come on top of emergency money already approved by Congress. The National Association of Purchasing Management's non-manufacturing report for September showed the non-manufacturing business activity index rose to 50.2 last month from 45.50 in August, which was then a record four-year low. Economists on average were expecting the latest reading to come in even lower -- at 43. A reading above 50 indicates growth, while one below 50 shows contraction.

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