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Still no charts

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I must apologize, but our charting service is still down. Based on what I can decipher, stocks appear to be fading into the close. The Dow has lost the 10,000 level, and is down 131.47. The Nasdaq is back below the 1900 level, and off 58.04.

According to the Fed there are still dangers of "excessive productive capacity" and weakness abroad. Because of this, demand could remain soft. They also hinted at restrained investment spending and decreased consumption. The Fed did say they would "monitor developments closely." This has been interpreted as another rate cut before the Fed's next meeting on May 15th. Hopefully we will have charts back by 4:30.

Jeffrey Canavan
Assistant Analyst

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