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

To: d. alexander who wrote (24002)	10/15/1999 3:32:00 PM
From: Johnny Canuck	Respond to of 68011

SP500 broke support at 1268 with no problem. Now testing support level at 1243. It looks to be holding for now. Next support level is at 1180 though. I think the downward move is being exaggerated by the fact that today is options expiration. EPC yesterday was 1.68 as a result. That is way bearish, but since it is options expiration it is also distorted. Stock with good earnings and outlook are holding up well, SUNW, BRCM, NVLS. CIEN rebound despite market conditions. Chip Equip is the only group showing any advance on a negative market day. Chips are flat. Everyone else is down. Bonds re-bounding from oversold condition yesterday despite PPI and Greenspan.