Market Soapbox 02/17/06
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 reports in another post.
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. Thur, DJIA +62 on higher volume with fantastic internals.
Today, DJIA -5 in a minor consolidation on lower volume with lousy internals, leaking into the close. This week DJIA +197. Last week DJIA +116, over the last 21 weeks DJIA +393.
DJUA, XOI & XAU up. SOX, NDX, DJTA down. CAC DAX, FTSE, Hang Seng up, Nikkei 225 continuing to sell off.
Sectors: Airlines, Tech, Transports & Semis down. Healthcare, Utilities, Energy, Oil, Natural Gas & Gold Bugs up nicely.
Dollar down vs. Euro & up vs Yen, XAU & gold up @ 551.8, XOI & crude up @ 59.88, CRB commodities up.
Yield curve MAJOR INVERSION bonds up BIG with the 30 yr yield falling @ 4.50%; 10 yr @ 4.56; 5 yr @ 4.59; 2yr @ 4.67; 6mo @ 4.68. In a full tilt boogey, 2yr is above the 30 year since 02/09, 8 days to go.
Looking ahead at potential market influences: Feb 20: Presidents Day; Feb 21 3 & 6 mo Bill auction, FOMC Minutes, Leading Indicators; Feb 22 2 yr note auction, Core CPI; Total CPI; EIA Feb 23 5 yr note auction, Initial Claims; Feb 24 Durable Goods
Yesterday: "Gaining further traction... Friday sell off on options expiration? Maybe not, lets see. We still look to 1790-95 NDX as possible."
4 straight up days, today a breather. Perhaps a small slowdown next week due to bond auctions, the FOMC minutes and a CPI that will show inflation rages on.
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 reports in another post.
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. Thur, DJIA +62 on higher volume with fantastic internals.
Today, DJIA -5 in a minor consolidation on lower volume with lousy internals, leaking into the close. This week DJIA +197. Last week DJIA +116, over the last 21 weeks DJIA +393.
DJUA, XOI & XAU up. SOX, NDX, DJTA down. CAC DAX, FTSE, Hang Seng up, Nikkei 225 continuing to sell off.
Sectors: Airlines, Tech, Transports & Semis down. Healthcare, Utilities, Energy, Oil, Natural Gas & Gold Bugs up nicely.
Dollar down vs. Euro & up vs Yen, XAU & gold up @ 551.8, XOI & crude up @ 59.88, CRB commodities up.
Yield curve MAJOR INVERSION bonds up BIG with the 30 yr yield falling @ 4.50%; 10 yr @ 4.56; 5 yr @ 4.59; 2yr @ 4.67; 6mo @ 4.68. In a full tilt boogey, 2yr is above the 30 year since 02/09, 8 days to go.
Looking ahead at potential market influences: Feb 20: Presidents Day; Feb 21 3 & 6 mo Bill auction, FOMC Minutes, Leading Indicators; Feb 22 2 yr note auction, Core CPI; Total CPI; EIA Feb 23 5 yr note auction, Initial Claims; Feb 24 Durable Goods
Yesterday: "Gaining further traction... Friday sell off on options expiration? Maybe not, lets see. We still look to 1790-95 NDX as possible."
4 straight up days, today a breather. Perhaps a small slowdown next week due to bond auctions, the FOMC minutes and a CPI that will show inflation rages on.
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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