Market Soapbox 09/13/05
Resistance: DJIA 10750; SP500 1250; Nasdaq 2200; NDX 1625
Support: DJIA 10250 ; SP500 1200 ; Nasdaq 2050; NDX 1535
Last week good market resilence, Monday a split tape day, oil down to $63.22. Dollar strong, bonds weak. Oil & energy slapped down.
Today, a down day with authority, market internals were horrible on higher volume. Airlines got pounded 7% on Delta BK news. Oil, gold & commodities down, dollar & bonds up. A broadbased sell off.
A new series on Chinese and American banking will be posted this week, time permitting.
Sorry for the brevity of this report, soapbox will be scarce this week, as we have been deployed to the Adriatic.
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 10250 ; SP500 1200 ; Nasdaq 2050; NDX 1535
Last week good market resilence, Monday a split tape day, oil down to $63.22. Dollar strong, bonds weak. Oil & energy slapped down.
Today, a down day with authority, market internals were horrible on higher volume. Airlines got pounded 7% on Delta BK news. Oil, gold & commodities down, dollar & bonds up. A broadbased sell off.
A new series on Chinese and American banking will be posted this week, time permitting.
Sorry for the brevity of this report, soapbox will be scarce this week, as we have been deployed to the Adriatic.
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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