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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (21459)	6/9/1999 3:18:00 PM
From: Johnny Canuck	Respond to of 67962

X, >>I am leaving for a NASCAR Winston Cup race. Sounds like a lot of fun. Market direction will probably be determined by the expectations of the PPI numbers on Friday. I noticed www.briefing.com is expecting benign numbers. They tend to be conservative, so I expect that the street is expecting the same. The overall market is reacting quite well to a rise in interest rates overall 6 percent. It appears to be quite controlled right now. ********************* .S. TREASURIES: U.S. Treasuries prices were depressed at midday as bearish sentiment dominated and players reduced their exposure ahead of several key market events. The benchmark 30-year Treasury bond was down 10/32 at 1:20 p.m. ET. Its 6.02 percent yield was at its highest level in more than a year. ''The market has very negative price action,'' said one trader at a primary government securities dealer. ''The psychology is negative and it's heading into inflation data that are pivotal to its future.'' The market will get the May Producer Price Index (PPI) on Friday and the Consumer Price Index (CPI) on June 16. The pricing of several large corporate deals also tended to weigh on Treasury prices, traders and analysts said.