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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call

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To: Win-Lose-Draw who started this subject3/31/2003 1:45:46 PM
From: Softechie   of 11447
 
CHARTING MARKETS: Stock Market Pointed Lower

31 Mar 07:15


A Dow Jones Newswires Column By Stephen Cox, CMT

10Y-Note Euro$ DJIA NASDAQ S&P TSE 300
(CBOT) (IMM) COMP 500
Next Resist. 115-16 98.92 8318.81 1419.11 885.63 6428.06
First Resist. 115-09 98.88 8284.99 1397.52 870.36 6407.11

First Support 113-29 98.78 8076.02 1355.93 847.48 6353.44
Next Support 112-16 98.72 7957.95 1235.09 835.15 6321.30

EUR/$ $/Yen Nikkei JGB CRB Gold Crude
225 (TSE) (Comex) (Nymex)
Next Resist. 1.0935 121.80 8565 142.84 233.85 339.50 32.50
First Resist. 1.0843 120.77 8451 142.75 230.20 334.00 30.98

First Support 1.0620 118.56 8197 142.64 227.15 325.80 28.90
Next Support 1.0511 117.92 7975 142.57 225.51 316.00 27.60

T-Note: The nearby settled Friday at the important intraday level of 114-10.

A lower opening will be a caution signal to the price bulls.


Eurodollar: The leading contract is likely to continue higher in early
trading.


Nasdaq: Technical levels are unchanged. Friday's weak close implies that
first support will be tested.


S&P 500: The short-term index is now technically weak below first resistance.


DJIA: Technical levels are little changed. Falling technical momentum
suggests early weakness.


TSE 300: The index is headed lower in early trading.


CRB Index: Technical levels remain unchanged. Rallies are likely to be turned
back at first or at second resistance.


Gold: Trading is likely to be mostly steady.


Crude: A test of first resistance will signal a brief pullback.


EUR/USD: Intraday trading will be weak below 1.0789.


JGB: Technical levels are unchanged, but steady-to-lower trading is probable.


USD/JPY: Technical levels are unchanged. The important intraday level is
119.50.


Nikkei 225: Technical levels remain unchanged. A dip to first support can now
be expected.


For more technical analysis see: Dow Jones Newswires, N/DJTA; Telerate, page
4247; Bloomberg, NI DJTA; and Reuters key word search "Charting Money".

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 Newswires
03-31-03 0715ET
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