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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: Johnny Canuck who wrote (37672)	7/17/2002 11:28:37 AM
From: Johnny Canuck	Read Replies (1) of 69835

UNITED STATES MARKETS U.S. stocks fell as Federal Reserve Chairman Alan Greenspan said disclosures of more misdeeds by corporate executives threaten to undermine consumer confidence. Consumer stocks led the S&P 500 downward, closing just above the 900-level. Consumers, which many feel have carried the economy, are now thought to be waning as retailers like Whirlpool (WHR) and Maytag (MYG) said sales growth would slow in the second half of the year. The companies said a slowdown in the pace of mortgage refinancing and slumping stock markets will curb consumer spending. Whirlpool dropped $6.63 to $56.28 and Maytag slipped $6.54 to $32.32. In the industrial sector, Caterpillar (CAT) slid $2.19 to $43.00 after the maker of earthmoving equipment lowered its 2002 profit forecast because of slow sales of mining and power generation gear. One bright note came in the tech sector from Nextel Communications NXTL). The mobile phone company jumped $1.50, or 30 percent, to $6.50 after reporting a Q2 profit on a 25 percent jump in sales and a gain from retiring preferred stock.

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