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

To: Johnny Canuck who wrote (35241)	11/24/2001 9:21:38 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69990

Meanwhile the bears say the bullish momentum could carry the indexes just a little further from Monday's levels -- the Dow to 10,200, S&P to 1,177 and the Nasdaq to 1,980. In fact, the Dow could go to 10,500 and the S&P could conceivably hit 1,249, says Newman, who adds that his bearish bets would be off if the S&P can break above that level which is the mid-point between the index's all time high of 1,527.35 and the Sept. 21 lows. He thinks the probability is remote. ``We never had a retest (of the Sept. 21 lows) and that's one of the reasons why I continue to remain bearish longer-term,'' said Newman, who expects a smaller pullback to about 1,060, 1,750 and 9,200 in the S&P, Nasdaq and Dow respectively, before they can rally. biz.yahoo.com