Will We Stop The Slide?

• August 30, 2001
• Lewis J. Borsellino

S&Ps are down 5.00 this morning at 1147.20 and face the question — will we stop the slide?

On the upside, our first targets are 1148.50 and 1151.50. We must get above 1154 to stop the downward slide.

On the downside, we have a key area at 1146.50. Below this, we have 1143, a major area at 1142.50, and then 1140.

Nasdaq is trading down 28.50 at 1481. Our first support level will be 1479 to 1469. Below that, we have 1461 to 1455, and then 1446 to 1441.

On the upside, we have yesterday’s key support which is now resistance at 1485 to 1492. Above this, we have 1505 to 1515, and then 1529 to 1535.

The Dow closed yesterday below 10,120, our key level. It now looks to be retracing the move from our March lows of 9106 to our May high of 11,350.