STANDARD & POORS DEP REC (SPY-Amex): Technical Viewpoint: From a low of $84.40 on Mar 31, 2003 prices rallied, reaching a high of $90.85 on Apr 7, 2003. A decline saw prices pull back, reaching a low of $85.71 on Apr 10, 2003. Another rally saw prices penetrate resistance, closing 4/14/03 at $88.95. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Mar 19, 2003 when the Histogram crossed the "0" line to the upside. Support: Remains at $86.70. Resistance: Is at $90.85. Point & Figure: Reversed to the upside on Apr 11, 2003. A P&F upside reversal takes place at $86.25. Summary: Technical indicators have turned bullish. BUY! STANDARD & POORS DEP REC (SPY-Amex) @ $89.13 Stop: Use a protective stop of $86.38. STANDARD & POORS DEP REC is currently trading @ $88.95 plus $1.80 on Apr 14, 2003. Price Objective: $108.75. Risk/Reward: $2.75 VS. $19.63. Today's Risk Reward Ratio: 7:1