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

To: Johnny Canuck who wrote (36930)	5/2/2002 11:01:49 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 67751

1:31PM S&P sees declining corporate default rates by Tomi Kilgore Standard & Poor's believes default rates on corporate debt have peaked and will decline through 2004 due to the U.S. economic recovery. S&P said that although the number of defaults reached a record in the first quarter, the total value of the defaults declined from record levels seen in the same period a year earlier. The firm added that it viewed Argentine defaults as a one-time event. 12:03PM Sungard's Dudack sees downside test for S&P 500 ($SPX) by Tomi Kilgore Gail Dudack, market strategist at Sungard Institutional Brokerage, sees potential for the S&P 500 Index ($SPX) to test the lower end of its recent trading range -- 1,200 to 950 -- around the middle of the year. She says weakness in the U.S. dollar poses a long-term risk for the stock market, which she believes is still "far from oversold." The S&P 500 is currently down 1.54 points at 1,084.92. :30AM Stocks could rally for 1-2 weeks: HL's Dickson ($INDU, $COMPQ, $SPX) by Tomi Kilgore Richard Dickson, technical analyst at Hilliard Lyons, says positive momentum from Wednesday's turnaround could produce a stock market rally lasting one to two weeks, but added that there was "scant technical evidence" to support the idea that the stock market has completed a bottom. He sees near-term upside potential for the Dow industrials ($INDU) at 10,200, for the Nasdaq Composite ($COMPQ) at 1,750 and for the S&P 500 Index ($SPX) at 1,120. Support should come in at 10,000, 1,643 and 1,082, respectively.