Market Analysis for May 7th, 2003

Although the stock indices have struggled to stay positive throughout today's session, unless particular near term support levels are violated at 923.50 in the June S&P, at 1132.00 in the June Nasdaq, and at 8536 in the DJIA (see this morning's chart work attached to Good Morning World!), the indices will NOT be in danger of serious long side liquidation... With that in mind, have a look at our updated chart analytics of the QQQs with about 40 minutes remaining in today's session.