usa/stock indexs/markets

The STOCK INDEXES & MARKETS

Stock indexes closed sharply lower on Friday following the
release of the latest jobs data, which showed payrolls grew
by only 6,000 compared with expectations for in increase of
68,000. Additional data showed that the rebound
manufacturing has slowed considerable and consumer
confidence continues to decline, which may be reflected in
next month's retail sales data. Today's decline in the
NASDAQ Composite Index saw the index fill Monday's gap at
1264.67 thereby tempering the near-term friendly outlook in
the index. While a short covering bounce is possible on
Monday, the door is now open for a test of last week's low
crossing at 1192.42, which coincides with weekly support.
Today's decline also turned a number of momentum indicators
bearish, hinting that sideways to lower prices are possible
during the first half of August. The NASDAQ Composite Index
closed down 32.12 points at 1247.88. The September S&P 500
index also closed lower on Friday due to profit taking ahead
of the weekend. September's inability to breakout above the
previous reaction crossing at 929.50 leaves the index
vulnerable to a resumption of this year's decline. A number
of short-term momentum indicators are turning neutral to
bearish today hinting that sideways to lower prices are
possible near-term. The September S&P 500 index closed down
19.50 points at 864.50.

The Dow closed sharply lower on Friday following the release
of this morning's economic data, which raised the
possibility for a double-dip recession. Additional pressure
came from disappointments in corporate earnings. The Dow has
retraced 38% of its short covering rally off last week's low
in the past two days. A technical bounce ahead of the close
tempered some of today's loss leaving the door open for a
short covering bounce on Monday. Closes above this week's
high at 8761 are needed to renew July's rebound, which could
lead to a test of the May-July downtrend line crossing near
8900 later this month. Closes above this downtrend line are
needed to signal that an important bottom has likely been
posted. The Dow closed down 193 points at 8313.

our SPI down 24 points

have a good day