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Strategies & Market Trends : Classic TA Workplace

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To: bcrafty who wrote (55049)	10/1/2002 10:08:09 AM
From: The Freep	Read Replies (2) of 209892

But of course the Dow is rallying. Here's why, per briefing.com, ya see: 10:03 ET ISM near expectations : The ISM index came in at 49.5% for September; though below the 51.0% consensus, this consensus was most likely overstated in the wake of yesterday's weak Chicago PMI reading. Even at 49.5%, the ISM is well above the 42.7% breakeven line for the overall economy, and is consistent with GDP growth of better than 2%. Finally, the closely watched orders index actually improved to 50.2% from 49.7% in Aug; though still soft vs recent numbers, this increase is encouraging and squares with the recent strength in durable orders reports. The Construction spending data was near expectations, and Challenger layoffs showed the lowest layoff announcements in 22 months during Sep. The market is doing better on these reports: Dow +75, Nasdaq +1.

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