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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (7784)	4/14/2005 8:22:08 AM
From: Walkingshadow	of 8752

There's important economic news within the next 30 minutes.... Initial claims (consensus 330K) and Feb Business Inventories (consensus +0.5%) will be released, so these will affect things if they come in significantly different from expectations. Oil looks to be stabilizing now, but has failed at several support levels after forming a double-top. It now appears oil will not be a concern for the markets, at least not in the near future. Overseas markets were predictably down following yesterday's losses on Wall Street, which by the way established a new low for the NDX on the year below the 200 sma. If economic news does not differ from market expectations, I think we'll see a bit of rally today, but we will not see sustained momentum to the upside with follow-through. Rallies will be short, and we will see the $36 level decisively broken within the next several sessions, by the end of next week at the most. T

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