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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who wrote (2017)	3/6/2002 2:45:00 PM
From: Softechie	Read Replies (1) of 2155

Charting Money: Bad News Is Good News For DJIA 06 Mar 12:00 By Stephen Cox, CMT A Dow Jones Newswires Column NEW YORK (Dow Jones)--The Nasdaq Composite index is holding above 1806.88 support. Observers will know that the level will be tested if 1845.19 is taken out on a daily close. The index's Wednesday intraday low is 1841.31. That much implies short-term technical strength. The Dow Jones Industrial Average is technically strong because it has decisively taken out 10043, which is now long-term support. The Average is vulnerable to a dip to 10286.60 as a matter of course The point is the 10286.60 is considerably higher than 10043. U.S. 10-year Yield Headed Higher The U.S. 10-year yield is evidently still pointed up to 5.089%, perhaps as high as 5.133%. The CBOT June contract is going for a test of support in the 99-00 handle. Growing technical firmness of the IMM eurodollar market is now unlikely to carry the contract beyond 98.30 resistance this month, however. Dollar To Recover ... Euro Too The nearby U.S. Dollar Index has extended its losses after failing a test of 119.54 resistance. However, trading of USD/JPY near support in the 130 handle is signaling a dollar recovery. That recovery isn't likely to stop EUR/USD from testing the 0.8827 - 0.8837 resistance band. To try out the new Charting Markets weekly technical newsletter go to djnewswires.com For more technical analysis see: Dow Jones Newswires, N/DJTA; Telerate, page 4073; Bloomberg, NI DJTA; and Reuters key word search "Charting Markets." CQG key word search "Charting". -By Stephen Cox, Dow Jones Newswires; 201-938-2064; stephen.cox@dowjones.com (Stephen Cox, a chartered market technician, is chief technician for Dow Jones Newswires.) (Data by CSI, Commodity Research Bureau) (END) DOW JONES NEWS 03-06-02 12:00 PM

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