Compliments Of The Power Outage…

  • August 15, 2003
  • Dave Floyd

Compliments of the power outage you can add a day to your weekend. I simply
do not see any solid trading setting up today as volume will be very light. Poke
around on the opening, there may be a trade, but after that, pack it up and
enjoy the weekend.

SPs finding
resistance under 993 and 989-990 zone. Key support remains 961.

SOX has behaved well since bouncing off the 366-367 support zone.

DOW remains within spitting distance of the June 17 9352 high. I suspect
a retest is highly probable; the question is whether the S&P, Naz and SOX
will find the follow through to confirm it, or whether it will be a shake
‘n’ bake move.

 

Support/Resistance
Numbers for S&P and Nasdaq Futures

S&Ps
 Nasdaq
995 1278
993* 1263
989-990 1258-1260*
981 1244
973-974 1229-1231
968 1207
1000 1199

As always, feel free to send me your comments and questions.

Dave