Market Soapbox 09/26/05
Resistance: DJIA 10750; SP500 1250; Nasdaq 2200; NDX 1625
Support: DJIA 10250 ; SP500 1200 ; Nasdaq 2050; NDX 1535
Today's SOOHEY PIG PIG award goes to me for letting the little porker have a quiet day in its poke.
Last week, DJIA -270 on higher volume, DJIA - 2.5% plunged below all major DMA's, SP500 -1.7%, RUT, & MID all are resting on 90 DMA, SOX, NDX & Nasdaq -2% are at 11 week lows.
Today an up day DJIA +71 early with recuperating internals, then a pullback to DJIA +24 as oil prices rose. RUT & MID gave leadership in a split tape day.
Energy, Oil, Oil Services, Natural Gas, Commodity, Heathcare, Gold Bugs, Networking, Utilities, Semis & Airline up. Biotech & Semi Mfg down. SMI corp (semi mfg international) got flipped on its side today losing a whopping 10.5%.
European & Asian markets Nikkei +1.8% (4 year high) both up BIG. Dollar down vs. Yen & Euro , XAU & gold up, XOI & oil up, commodities flat & bonds down. Contra trend: None
Bond prices down with the 10 year yield increasing to 4.29%. The gap between 5 & 10 year notes stands at 18 basis points. The 30 year fell raising its yield to 4.56, the gap between 10 & 30 now stands at 27 basis points.
The market caught support at the critical 90 DMA and is sitting there, depending on which way the wind blows, who knows in what direction we shall go?
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
Today's SOOHEY PIG PIG award goes to me for letting the little porker have a quiet day in its poke.
Last week, DJIA -270 on higher volume, DJIA - 2.5% plunged below all major DMA's, SP500 -1.7%, RUT, & MID all are resting on 90 DMA, SOX, NDX & Nasdaq -2% are at 11 week lows.
Today an up day DJIA +71 early with recuperating internals, then a pullback to DJIA +24 as oil prices rose. RUT & MID gave leadership in a split tape day.
Energy, Oil, Oil Services, Natural Gas, Commodity, Heathcare, Gold Bugs, Networking, Utilities, Semis & Airline up. Biotech & Semi Mfg down. SMI corp (semi mfg international) got flipped on its side today losing a whopping 10.5%.
European & Asian markets Nikkei +1.8% (4 year high) both up BIG. Dollar down vs. Yen & Euro , XAU & gold up, XOI & oil up, commodities flat & bonds down. Contra trend: None
Bond prices down with the 10 year yield increasing to 4.29%. The gap between 5 & 10 year notes stands at 18 basis points. The 30 year fell raising its yield to 4.56, the gap between 10 & 30 now stands at 27 basis points.
The market caught support at the critical 90 DMA and is sitting there, depending on which way the wind blows, who knows in what direction we shall go?
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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