المدمر
22-07-2002, Mon 1:39 PM
1. MORNING OUTLOOK
Pre-market futures are lower and suggesting that markets may open
flat to lower. European stock markets slumped on Monday adding to last
week's heavy losses which led to a dramatic sell off on Wall Street. Heavy
selling swiped Asia-Pacific markets on Monday after Wall Street's slide and
economic uncertainty in the U.S. prompted investors to unload shares in
the region's exporters.
U.S. stocks posted massive losses on Friday as Dow fell below Sept. 11th
low on worries about regulatory probes, accounting errors and disappointing
forecasts drove investors from the market. Dow Jones Industrial Average fell
to its lowest level since 1998. Volume amounted to 2.64 billion on the NYSE
and 1.31 billion on the Nasdaq Stock Market. Market breadth was negative,
with Decliners were leading Advancers by 2494 to 752 on the NYSE. Nasdaq's
Decliners were leading Advancers by 2777 to 1041. Dow lost 390 points to
close at 8019. Dow is trading in deep oversold condition below 50 and 200-Day
MA with negative momentum. Dow broke through its key trading channel and
signalling more weakness. Analysts predict Dow may see a big drop on Monday
to test the next major support level near 7450-7500 level. Since Dow is in oversold
condition, there could be a reaction rally in the next few sessions. Dow's minor
support level is near 7838. Watch 7950 for potential downside and 8100 for
upside breakout. Nasdaq lost 38 points to close at 1319. Nasdaq is also trading
in oversold condition. In normal conditions, Nasdaq may see a reaction rally from
the current levels. Watch 1300 for potential downside and 1345 for upside breakout.
NASDAQ is trading with negative momentum. NASDAQ's resistance levels are:
1343, 1376, 1393. NASDAQ's support levels are: 1297, 1264, 1244. Monday's
trading could be cautious and volatile as investors continue to react to the market
sentiment and earnings reports.
Sectors to Watch: BioTech, SemiConductors, Retail, Gold, Transports, Wireless,
Defense, Airline,Storage, Security, Comp. Hardware, Airlines.
Index: [Support Levels] [Resistance Levels]
____________________________________
Dow: [7918 & 7818] [8119 & 8223]
Nas : [1297 & 1264] [1343 & 1376]
S&P: [835 & 824] [856 & 867]
_________________________________________________
2. S&P FUTURES, NASDAQ PMI & FOREIGN MARKETS
( - ) S&P futures are trading down 4.5 points.
( - ) Nasdaq futures are trading down 2.0 points.
( - ) Asian Markets are down. HongKong [-2.08%]; Japan [-.13%]; Korea [-4.47%];
( - ) European Markets are down. France [-1.97%]; Germany [-2.77%]; U.K. [-1.57%];
_________________________________________________
3. PRE-MARKET ACTIVE STOCKS
.....News Related
MMM,AXP,AOL,TXN,WEBM,MHP,CDWC,MCDT,RD,CHKP,NVLS,TQ NT,ALTR
_________________________________________________
4. STOCKS TO WATCH
.....momentum stocks
NXTL,LVLT,CREE,RHAT,MCDT,PCNTF,RDY,UPS,EPIQ,EXTR,A MZN,NXTV
.....daytrading stocks
CREE,CHKP,EXTR,AMZN,HLTH,IIJI,IMCL,ISSX,MCAF,MCDT, MERQ,MOVI,NXTL,PDLI,PMCS,PORT,PSFT,SNDK,BRCM,RHAT
.....today's earnings
X (-.07),OXY (.62),SLAB (.06),TUNE (-.11),TUP (.43),FMC (.65),SAFC (.30),TSM (.08),CRUS (-.09),LEA (1.17),AV (-.04),NVS (.43),HAS (-.06),ASH (1.04),NVLS (.08),SO (.42),TQNT (-.02),TXN (.06),DGX (.83),AXP (.50),BLS (.57),CHKP (.25),WEBM (-.04),LXK (.61),ALK (-.38),ALTR (.05),BWEB (-.11),FISV (.34),MMM (1.34),AWE (0.00)
Pre-market futures are lower and suggesting that markets may open
flat to lower. European stock markets slumped on Monday adding to last
week's heavy losses which led to a dramatic sell off on Wall Street. Heavy
selling swiped Asia-Pacific markets on Monday after Wall Street's slide and
economic uncertainty in the U.S. prompted investors to unload shares in
the region's exporters.
U.S. stocks posted massive losses on Friday as Dow fell below Sept. 11th
low on worries about regulatory probes, accounting errors and disappointing
forecasts drove investors from the market. Dow Jones Industrial Average fell
to its lowest level since 1998. Volume amounted to 2.64 billion on the NYSE
and 1.31 billion on the Nasdaq Stock Market. Market breadth was negative,
with Decliners were leading Advancers by 2494 to 752 on the NYSE. Nasdaq's
Decliners were leading Advancers by 2777 to 1041. Dow lost 390 points to
close at 8019. Dow is trading in deep oversold condition below 50 and 200-Day
MA with negative momentum. Dow broke through its key trading channel and
signalling more weakness. Analysts predict Dow may see a big drop on Monday
to test the next major support level near 7450-7500 level. Since Dow is in oversold
condition, there could be a reaction rally in the next few sessions. Dow's minor
support level is near 7838. Watch 7950 for potential downside and 8100 for
upside breakout. Nasdaq lost 38 points to close at 1319. Nasdaq is also trading
in oversold condition. In normal conditions, Nasdaq may see a reaction rally from
the current levels. Watch 1300 for potential downside and 1345 for upside breakout.
NASDAQ is trading with negative momentum. NASDAQ's resistance levels are:
1343, 1376, 1393. NASDAQ's support levels are: 1297, 1264, 1244. Monday's
trading could be cautious and volatile as investors continue to react to the market
sentiment and earnings reports.
Sectors to Watch: BioTech, SemiConductors, Retail, Gold, Transports, Wireless,
Defense, Airline,Storage, Security, Comp. Hardware, Airlines.
Index: [Support Levels] [Resistance Levels]
____________________________________
Dow: [7918 & 7818] [8119 & 8223]
Nas : [1297 & 1264] [1343 & 1376]
S&P: [835 & 824] [856 & 867]
_________________________________________________
2. S&P FUTURES, NASDAQ PMI & FOREIGN MARKETS
( - ) S&P futures are trading down 4.5 points.
( - ) Nasdaq futures are trading down 2.0 points.
( - ) Asian Markets are down. HongKong [-2.08%]; Japan [-.13%]; Korea [-4.47%];
( - ) European Markets are down. France [-1.97%]; Germany [-2.77%]; U.K. [-1.57%];
_________________________________________________
3. PRE-MARKET ACTIVE STOCKS
.....News Related
MMM,AXP,AOL,TXN,WEBM,MHP,CDWC,MCDT,RD,CHKP,NVLS,TQ NT,ALTR
_________________________________________________
4. STOCKS TO WATCH
.....momentum stocks
NXTL,LVLT,CREE,RHAT,MCDT,PCNTF,RDY,UPS,EPIQ,EXTR,A MZN,NXTV
.....daytrading stocks
CREE,CHKP,EXTR,AMZN,HLTH,IIJI,IMCL,ISSX,MCAF,MCDT, MERQ,MOVI,NXTL,PDLI,PMCS,PORT,PSFT,SNDK,BRCM,RHAT
.....today's earnings
X (-.07),OXY (.62),SLAB (.06),TUNE (-.11),TUP (.43),FMC (.65),SAFC (.30),TSM (.08),CRUS (-.09),LEA (1.17),AV (-.04),NVS (.43),HAS (-.06),ASH (1.04),NVLS (.08),SO (.42),TQNT (-.02),TXN (.06),DGX (.83),AXP (.50),BLS (.57),CHKP (.25),WEBM (-.04),LXK (.61),ALK (-.38),ALTR (.05),BWEB (-.11),FISV (.34),MMM (1.34),AWE (0.00)