Market Soapbox 07/08/05
Resistance: DJIA 10600; SP500 1225; Nasdaq 2100; NDX 1550
Support: DJIA 10200 ; SP500 1180 ; Nasdaq 2000; NDX 1500
European markets up & Asian markets down. Dollar up vs. Yen/Euro, oil up, commodities, gold & bonds down.
Today's Soohey Pig Pig!! Award goes to me for letting the pig have a quiet day in its poke.
Yesterday, London got the double 07 (07/07/05) treatment. Official death toll at 50, with over 700 injuries. Investigative deployment has begun.
Today, worldwide markets rebounded nicely as investors showed resolve in the face of terrorist activity. B2B internet & internet infrastructure suffered, otherwise mostly a sea of green.
Upcoming events to watch for: Further options unwind on July 13th, 5 year note auction July 13th, 10 year TIPS auction July 14th, options expiration July 15th.
Oil futures went over $61 today and the market gave nary a flinch. Next week, Wend, Thur & Fri could be a stern test for the markets heading into earnings season starting in earnest Mon. July 18th through August 12th.
Outside of financial and semis, which I believe will disappoint, earnings growth and forward projections will be the focus in the extreme.
Just when you think your safe, they suck you right back in...next week the Soapbox will be very scarce as a foray into the Adriatic zone has been mandated due to certain very recent events.
We take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong.
Support: DJIA 10200 ; SP500 1180 ; Nasdaq 2000; NDX 1500
European markets up & Asian markets down. Dollar up vs. Yen/Euro, oil up, commodities, gold & bonds down.
Today's Soohey Pig Pig!! Award goes to me for letting the pig have a quiet day in its poke.
Yesterday, London got the double 07 (07/07/05) treatment. Official death toll at 50, with over 700 injuries. Investigative deployment has begun.
Today, worldwide markets rebounded nicely as investors showed resolve in the face of terrorist activity. B2B internet & internet infrastructure suffered, otherwise mostly a sea of green.
Upcoming events to watch for: Further options unwind on July 13th, 5 year note auction July 13th, 10 year TIPS auction July 14th, options expiration July 15th.
Oil futures went over $61 today and the market gave nary a flinch. Next week, Wend, Thur & Fri could be a stern test for the markets heading into earnings season starting in earnest Mon. July 18th through August 12th.
Outside of financial and semis, which I believe will disappoint, earnings growth and forward projections will be the focus in the extreme.
Just when you think your safe, they suck you right back in...next week the Soapbox will be very scarce as a foray into the Adriatic zone has been mandated due to certain very recent events.
We take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong.
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