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Politics : Idea Of The Day

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To: Brian Fukuba who wrote (18547)	6/5/1998 10:19:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

On surface friends this employment number looks very strong as a result we saw bonds selling down but as analysis seeped in we came to know that the pundits of the market think that number is not bad as construction hourly earnings the most sensitive of the all has shown a surprising decline it is the retail sector and government jobs where earnings presures are reeping up. I would reiterate that strong hourly earnings within bounds and ASEA weakness are complimentry factors. I will therefore draw your attention to possibility of achieving corporate profit growth rates, now if I remember well this is already discounted my reading overall is that Techs will fly soon. SPM will remain within range 1110 1118 1124 and 1130 are the levels to watch for. The first and last are critical resistances and two in middle are intermediate resitance. On the down side 1092 remains a very critical support, but if you see composite taking out 1752 you should be extremely careful. Isee the market range bound for next few weeks that is 1101 to 1130, towards 15th I see the seeds of next move.

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