Market Soapbox 03/30/06
Resistance: DJIA 11325; SP500 1310; Nasdaq 2340; NDX 1710
Support: DJIA 10950; SP500 1270; Nasdaq 2250; NDX 1635
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Economic reports covered in today's other post.
YIELD CURVE CORRECTION, Bonds DOWN BIG with the 30 yr yield rising @ 4.89%; 10 yr @ 4.85; 5 yr @ 4.82; 2yr @ 4.83; 6 mo @ 4.82. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29. Highest yields since June 2004.
DJIA week ending: 09/23 -270 breaking key support, 09/30 +148, 10/07 -281, 10/14 -6, 10/21 -77. (5 week loss -486). 10/28 recovery begins +186, 11/04 +128, 11/11 +154, 11/18 +79, 11/25 +165, (5 week gain +712).
12/02 -53, 12/09 -99, 12/16 +99, 12/23 +8, 12/30 -168, (5 week loss -213). 01/06 +242 on a broadbased new year buy in, 01/13 +0, 01/20 -292, 01/27 +240, 02/03 -113. (5 week gain +77).
02/10 +125, 02/17 +196, 02/24 -52. 03/03 +6. 03/10 +61, (5 week gain +336). 03/17 +159, 03/24 +0 (2 week gain +159). Mon, DJIA -30 on lower volume with midlin internals.
Tues, a WWF slapdown from 2:15PST on. DJIA -96. Wen, DJIA +61 on a broadbased bounce with steady volume and peachy internals.
Today DJIA -65 on steady volume with midlin internals. This week DJIA -130, since 09/23/05 DJIA +460.
Indexes UP: NYSE, NDX, XOI, XAU. DOWN: DJUA, DJTA, RUT. Sectors UP: Gold Bugs, Tech, Commodity. DOWN: Airlines, Utilities, Transports, Banking, Consumer, Healthcare, Homebuilders, REIT's. Overseas: DAX, CAC, FTSE, Hang Seng & Nikkei 225 all up BIG.
Dollar DOWN vs. Euro 1.2154 & vs. Yen 117.33, XAU & gold UP @ 586.70, XOI & crude UP 1% @ 67.20, CRB commodities index UP @ 337.40. Gold +2% 25 year high, Silver +3% 22 year high
Looking ahead at potential market influences: Mar 31 Personal Income and Spending, Mich Sentiment, Chicago PMI, Factory Orders.
Yesterday:"we are still leary. Tomorrows chain deflator & GDP could stoke inflation fears, and oil is above $66." And did it ever, with oil now above $67 and yields @4.90% we don't expect the market to act kindly until theres a pullback in yields or energy.
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 10950; SP500 1270; Nasdaq 2250; NDX 1635
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Economic reports covered in today's other post.
YIELD CURVE CORRECTION, Bonds DOWN BIG with the 30 yr yield rising @ 4.89%; 10 yr @ 4.85; 5 yr @ 4.82; 2yr @ 4.83; 6 mo @ 4.82. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29. Highest yields since June 2004.
DJIA week ending: 09/23 -270 breaking key support, 09/30 +148, 10/07 -281, 10/14 -6, 10/21 -77. (5 week loss -486). 10/28 recovery begins +186, 11/04 +128, 11/11 +154, 11/18 +79, 11/25 +165, (5 week gain +712).
12/02 -53, 12/09 -99, 12/16 +99, 12/23 +8, 12/30 -168, (5 week loss -213). 01/06 +242 on a broadbased new year buy in, 01/13 +0, 01/20 -292, 01/27 +240, 02/03 -113. (5 week gain +77).
02/10 +125, 02/17 +196, 02/24 -52. 03/03 +6. 03/10 +61, (5 week gain +336). 03/17 +159, 03/24 +0 (2 week gain +159). Mon, DJIA -30 on lower volume with midlin internals.
Tues, a WWF slapdown from 2:15PST on. DJIA -96. Wen, DJIA +61 on a broadbased bounce with steady volume and peachy internals.
Today DJIA -65 on steady volume with midlin internals. This week DJIA -130, since 09/23/05 DJIA +460.
Indexes UP: NYSE, NDX, XOI, XAU. DOWN: DJUA, DJTA, RUT. Sectors UP: Gold Bugs, Tech, Commodity. DOWN: Airlines, Utilities, Transports, Banking, Consumer, Healthcare, Homebuilders, REIT's. Overseas: DAX, CAC, FTSE, Hang Seng & Nikkei 225 all up BIG.
Dollar DOWN vs. Euro 1.2154 & vs. Yen 117.33, XAU & gold UP @ 586.70, XOI & crude UP 1% @ 67.20, CRB commodities index UP @ 337.40. Gold +2% 25 year high, Silver +3% 22 year high
Looking ahead at potential market influences: Mar 31 Personal Income and Spending, Mich Sentiment, Chicago PMI, Factory Orders.
Yesterday:"we are still leary. Tomorrows chain deflator & GDP could stoke inflation fears, and oil is above $66." And did it ever, with oil now above $67 and yields @4.90% we don't expect the market to act kindly until theres a pullback in yields or energy.
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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