Market Soapbox 02/16/06
Resistance: DJIA 11175; SP500 1295; Nasdaq 2335; NDX 1720
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. Oil rebounded 1.7% today after a two day 6% drubbing and overall 12% loss this month, which had it below $57. HP hit a 5 year high.
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.
Mon, DJIA -26 on a bounce into closing with horrible internals and lower volume. Tues, DJIA +136 on higher volume with nice internals. Wen, DJIA +30 on higher volume with nicer internals.
Today, DJIA +62 on higher volume with fantastic internals, This week DJIA +202. Last week DJIA +116, over the last 21 weeks DJIA +398.
DJTA down. NDX, NAZ, SOX, XAU, XOI, MID & RUT up. CAC DAX, FTSE, Hang Seng & Nikkei 225 all up.
Sectors: Airlines, Transports, Healthcare down. Tech, Semis, Commodity, Energy, Biotech, Banking & Gold Bugs up nicely.
Dollar flat vs. Euro 1.189 & down vs Yen 117.4, XAU & gold up @ 546, XOI & crude up @ 58.70, CRB commodities up.
Yield curve MAJOR INVERSION bonds up with the 30 yr yield falling @ 4.57%; 10 yr @ 4.58; 5 yr @ 4.58; 2yr @ 4.69; 6mo @ 4.68. In a full tilt boogey, 2yr is above the 30 year since 02/09.
Looking ahead at potential market influences: Feb 17 Mich Sentiment; PPI, Core PPI.
Yesterday: "Today, a slight tick up while building support." Gaining further traction in Tech, 4th straight up day with NDX punching through and coming to rest on top of near term resistance at 1675. SOX, MID & RUT providing leadership as well.
Friday sell off on options expiration? Maybe not, lets see. 1637 was close enough to 1630, so we still look to 1790-95 NDX as possible.
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. Oil rebounded 1.7% today after a two day 6% drubbing and overall 12% loss this month, which had it below $57. HP hit a 5 year high.
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.
Mon, DJIA -26 on a bounce into closing with horrible internals and lower volume. Tues, DJIA +136 on higher volume with nice internals. Wen, DJIA +30 on higher volume with nicer internals.
Today, DJIA +62 on higher volume with fantastic internals, This week DJIA +202. Last week DJIA +116, over the last 21 weeks DJIA +398.
DJTA down. NDX, NAZ, SOX, XAU, XOI, MID & RUT up. CAC DAX, FTSE, Hang Seng & Nikkei 225 all up.
Sectors: Airlines, Transports, Healthcare down. Tech, Semis, Commodity, Energy, Biotech, Banking & Gold Bugs up nicely.
Dollar flat vs. Euro 1.189 & down vs Yen 117.4, XAU & gold up @ 546, XOI & crude up @ 58.70, CRB commodities up.
Yield curve MAJOR INVERSION bonds up with the 30 yr yield falling @ 4.57%; 10 yr @ 4.58; 5 yr @ 4.58; 2yr @ 4.69; 6mo @ 4.68. In a full tilt boogey, 2yr is above the 30 year since 02/09.
Looking ahead at potential market influences: Feb 17 Mich Sentiment; PPI, Core PPI.
Yesterday: "Today, a slight tick up while building support." Gaining further traction in Tech, 4th straight up day with NDX punching through and coming to rest on top of near term resistance at 1675. SOX, MID & RUT providing leadership as well.
Friday sell off on options expiration? Maybe not, lets see. 1637 was close enough to 1630, so we still look to 1790-95 NDX as possible.
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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