Market Soapbox 02/15/06
Resistance: DJIA 11100; SP500 1285; Nasdaq 2315; NDX 1730
Support: DJIA 10700; SP500 1250; Nasdaq 2230; NDX 1640
In our top story tonight, Generalissimo Francisco Franco is STILL dead. In other news, todays economic events covered in another post.
Todays DJIA intraday high of 11068 was erroneously trumpeted as a 4.5 year high. 1/11/06 intraday 11099 and 06/07/01 close of 11090 still stand.
EIA Inventory, crude oil +4.85M barrels vs est. +1.0M; gasoline +2.12M vs est. +1.6M; distillates +907K vs est. -1M. Showing that higher prices and unusually warm eastern weather is leading to less consumption and a build.
Recent DJIA History: 21 weeks ago, -270 breaking key support, 20 weeks +148, 19 weeks -281, 18 weeks -6, 17 weeks -77, 5 week loss -486. 16 weeks recovery begins +186, 15 weeks +128, 14 weeks +154, 13 weeks +79, 12 weeks +165, 5 week gain +712.
11 weeks -53, 10 weeks -99, 9 weeks +99, 8 weeks +8. 7 weeks -168, 5 week loss -213. 6 weeks +242 on a broadbased new year buy in, 5 weeks +0, 4 weeks -292, 3 weeks +240, 2 weeks -113. 5 week gain +75. Last week DJIA +116, over the last 21 weeks DJIA +336.
Mon, DJIA -26 on a bounce into closing with horrible internals and lower volume. Tues, DJIA +136 on higher volume with nice internals. Today, DJIA +30 on low volume with decent internals. This week DJIA +140.
XAU & XOI down. DJTA, NDX, NAZ, MID & RUT up. CAC down, DAX & FTSE weak, Hang Seng weak & Nikkei 225 beat down bad.
Sectors: Airlines, Biotech, Brokers, Tobacco, Transports, Healthcare, Banking up. Gold bugs, energy, commodity, natural gas & oil down.
Dollar up vs. Euro 1.189 & Yen 117.5, XAU & gold down @ 539, XOI & crude down BIG 3.3% @ 57.60, CRB commodities down. Platinum, silver & copper beat down.
Yield curve MAJOR INVERSION bonds up with the 30 yr yield falling @ 4.57%; 10 yr @ 4.60; 5 yr @ 4.60; 2yr @ 4.69; 6mo @ 4.70. In a full tilt boogey, 2yr is above the 30 year since 02/09.
Looking ahead at potential market influences: Feb 16 Building Permits, Export Prices, Housing Starts, Import Prices, Initial Claims, Philly Fed; Feb 17 Mich Sentiment; PPI, Core PPI.
Yesterday: "Lets look for follow through, without short covering to see if this is the beginning of a nice bounce to 1790 NDX over the next 3 weeks." Today, a slight tick up while building support.
FYI, QQQQ March $43 Call @ 0.15, finish in the money ya get 0.95 at expiration. If this comes to pass, QQQQ April $40 Put will be the next order.
Keep it tween da ditches, 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, this is The Nattering Naybob and your NOT!!!
Support: DJIA 10700; SP500 1250; Nasdaq 2230; NDX 1640
In our top story tonight, Generalissimo Francisco Franco is STILL dead. In other news, todays economic events covered in another post.
Todays DJIA intraday high of 11068 was erroneously trumpeted as a 4.5 year high. 1/11/06 intraday 11099 and 06/07/01 close of 11090 still stand.
EIA Inventory, crude oil +4.85M barrels vs est. +1.0M; gasoline +2.12M vs est. +1.6M; distillates +907K vs est. -1M. Showing that higher prices and unusually warm eastern weather is leading to less consumption and a build.
Recent DJIA History: 21 weeks ago, -270 breaking key support, 20 weeks +148, 19 weeks -281, 18 weeks -6, 17 weeks -77, 5 week loss -486. 16 weeks recovery begins +186, 15 weeks +128, 14 weeks +154, 13 weeks +79, 12 weeks +165, 5 week gain +712.
11 weeks -53, 10 weeks -99, 9 weeks +99, 8 weeks +8. 7 weeks -168, 5 week loss -213. 6 weeks +242 on a broadbased new year buy in, 5 weeks +0, 4 weeks -292, 3 weeks +240, 2 weeks -113. 5 week gain +75. Last week DJIA +116, over the last 21 weeks DJIA +336.
Mon, DJIA -26 on a bounce into closing with horrible internals and lower volume. Tues, DJIA +136 on higher volume with nice internals. Today, DJIA +30 on low volume with decent internals. This week DJIA +140.
XAU & XOI down. DJTA, NDX, NAZ, MID & RUT up. CAC down, DAX & FTSE weak, Hang Seng weak & Nikkei 225 beat down bad.
Sectors: Airlines, Biotech, Brokers, Tobacco, Transports, Healthcare, Banking up. Gold bugs, energy, commodity, natural gas & oil down.
Dollar up vs. Euro 1.189 & Yen 117.5, XAU & gold down @ 539, XOI & crude down BIG 3.3% @ 57.60, CRB commodities down. Platinum, silver & copper beat down.
Yield curve MAJOR INVERSION bonds up with the 30 yr yield falling @ 4.57%; 10 yr @ 4.60; 5 yr @ 4.60; 2yr @ 4.69; 6mo @ 4.70. In a full tilt boogey, 2yr is above the 30 year since 02/09.
Looking ahead at potential market influences: Feb 16 Building Permits, Export Prices, Housing Starts, Import Prices, Initial Claims, Philly Fed; Feb 17 Mich Sentiment; PPI, Core PPI.
Yesterday: "Lets look for follow through, without short covering to see if this is the beginning of a nice bounce to 1790 NDX over the next 3 weeks." Today, a slight tick up while building support.
FYI, QQQQ March $43 Call @ 0.15, finish in the money ya get 0.95 at expiration. If this comes to pass, QQQQ April $40 Put will be the next order.
Keep it tween da ditches, 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, this is The Nattering Naybob and your NOT!!!
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