Paul Shread

Not much of a bounce today, with the Dow and S&P turning back at resistance (see first two charts below) and the Nasdaq (third chart) not even coming close. Resistance is 8100, 8185 and 8250-8300 on the Dow, and 862 and 875-880 on the S&P. Support is 8000, 7931 and 7838 on the Dow, and […]

Traders shook off a steady drumbeat of negative economic and earnings news on Tuesday to end a four-day losing streak for the stock market. Stocks got a boost after Saddam Hussein failed to show up for a TV appearance, re-igniting speculation that the Iraqi leader may be incapacitated. The Nasdaq rose 7 to 1348, the […]

Stocks fell sharply Monday on concern about a lengthy war in Iraq, and a weaker than expected manufacturing report didn’t help. The Nasdaq fell 28 to 1341, the S&P 500 lost 15 to 848, and the Dow plunged 153 to 7792. Volume rose to 1.37 billion shares on the NYSE, and 1.57 billion on the […]

Stocks fell again Friday on fears of terrorism and a protracted war in Iraq. The Nasdaq fell 14 to 1369, the S&P 500 lost 5 to 863, and the Dow dropped 55 to 8145. Volume rose to 1.23 billion shares on the NYSE, but declined to 1.35 billion on the Nasdaq. Advancers led 17-14 on […]

Support on all indexes held today: 8100 on the Dow (first chart), 858 on the S&P (second chart), and 1368 on the Nasdaq (third chart). Those supports have now been tested enough so that a substantial decline could occur if they are broken. Support levels are 8100, 8000, 7969, 7931 and 7838 on the Dow; […]

Stocks declined Thursday on fears that war in Iraq could last for months. The Nasdaq slipped 3 to 1384, the S&P 500 lost 1 to 868, and the Dow fell 28 to 8201. Volume declined to 1.22 billion shares on the NYSE, but rose to 1.42 billion on the Nasdaq. Advancers led 17-14 on the […]

The Dow and S&P (first two charts below) held the .382 retracement levels off their recent lows today (8100 and 855), but 8250-8300 and 875-880 remain tough resistance levels. To the downside, 8100, 8000, 7970 and 7931 are support on the Dow, and 855, 852, 846 and 841 are support on the S&P. The Nasdaq […]

AppIQ didn’t start out hoping to lead the storage world to CIM, a new storage management standard, but the company wound up doing so after listening to its customers. “When we were first building the AppIQ Solution Suite, we weren’t looking at CIM,” says Ash Ashutosh, CTO and co-founder of AppIQ. “But our customers told […]

Stocks declined Wednesday on a continued string of negative economic news and uncertainty over the war in Iraq. The Nasdaq slipped 3 to 1387, the S&P 500 lost 4 to 869, and the Dow fell 50 to 8229. Volume declined to 1.3 billion shares on the NYSE, and 1.41 billion on the Nasdaq. Decliners led […]

Stocks rose Tuesday as allied troops had no major setbacks in Iraq, but they pared their gains after the Senate cut President Bush’s tax cut in half. The Nasdaq rose 21 to 1391, the S&P 500 climbed 10 to 874, and the Dow gained 65 to 8280. Volume rose to 1.32 billion shares on the […]

Not much of a bounce considering the size of yesterday’s sell-off, but on the other hand, the internals were solid for such a small advance; another 80% upside day tomorrow would be bullish. That said, even if this market is headed higher, we’d prefer a complete correction first, with another leg down to 8000 on […]