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To: AllansAlias who wrote (79183)	3/12/2001 4:35:22 PM
From: UnBelievable	Read Replies (1) \| Respond to of 436258

Veteran Technical Analyst Sees Broad Selling Ahead 03/12/2001 Dow Jones News Services NEW YORK (Dow Jones)--Major market indexes on Monday crashed through support points as if they didn't exist, setting the stage for more declines among tech and nontech shares, one veteran technical analyst said. The Nasdaq's most significant drop - below 2000 - happened early in the day, and matters got worse from there. When all was said and done, the Nasdaq closed near its low point of the day, a position of weakness that makes additional declines likely, said Dick Dickson, chief technical strategist at Scott & Stringfellow. Dickson, who's been charting the stock market as a technical analyst for two decades, said daily drops may not be as dramatic as Monday's or even come in succession. But he feels more lie ahead. For instance, the Nasdaq's next support, or a spot that could temper further selling, is 1700. After that, it's possibly down to 1500. The Dow closed at 10208 after losing 436 points, taking out a key support point at 10300 - the bottom of a trading range it's been in for the last few months. From here a drop to 9600, then 9000, is possible. That would put the Dow at the bottom of the trading range it's been in for the past year. The Standard & Poor's 500 Index is equally challenged. The index fell 53 points to close at 1180 on Monday, taking out a support point at 1190 that the index had hit in the past and bounced up from. Next stop could be 1130, with the potential to fall though that point. Times are indeed troubling, Dickson said. From a technical standpoint, 'we're very challenged right now." (Copyright © 2001 Dow Jones & Company, Inc.)