Market Soapbox 05/01/06
Resistance: DJIA 11475; SP500 1320; Nasdaq 2380; NDX 1750
Support: DJIA 11075; SP500 1285; Nasdaq 2310; NDX 1695
In our top story tonight, Generalissimo Francisco Franco is STILL dead. The market was up until all the hyperbole about a Fed pause got slapped aside by a CNBC report that Fed Chairman Bernanke said the media misunderstood his remarks last week.
Bernanke said it is worrisome that anyone would think of him as dovish. Add in some economic reports indicating the obvious, that energy pass through stagflation is raging and the market bled into the close. Economic reports in another post.
Bonds DOWN BIG with the 30 yr yield rising @ 5.23%; 10 yr @ 5.14; 5 yr @ 5.00; 2yr @ 4.95; 6 mo @ 4.95. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29.
MON, DJIA -24 bleeding into the close on lower volume with ugly internals. This week DJIA -24, since 09/23/05 DJIA +565.
Indexes UP: DJTA, XOI, XAU. DOWN: DJUA, NDX, NAZ, SOX, MID & RUT.
Sectors UP: Gold Bugs, Energy, Oil, Natural Gas. DOWN: Tech, Semis, Banking, Healthcare
Overseas: DAX, CAC, FTSE , Hang Seng & Nikkei 225 UP.
Dollar DOWN vs. Euro 1.2656 & vs. Yen 112.45, XAU UP & gold DOWN @ 658, XOI & crude UP @ 74.03, CRB commodities index UP @ 355.22. Dollar at 1 yr low vs Euro & 7 month low vs Yen.
Market Observations in another post.
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 11075; SP500 1285; Nasdaq 2310; NDX 1695
In our top story tonight, Generalissimo Francisco Franco is STILL dead. The market was up until all the hyperbole about a Fed pause got slapped aside by a CNBC report that Fed Chairman Bernanke said the media misunderstood his remarks last week.
Bernanke said it is worrisome that anyone would think of him as dovish. Add in some economic reports indicating the obvious, that energy pass through stagflation is raging and the market bled into the close. Economic reports in another post.
Bonds DOWN BIG with the 30 yr yield rising @ 5.23%; 10 yr @ 5.14; 5 yr @ 5.00; 2yr @ 4.95; 6 mo @ 4.95. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29.
MON, DJIA -24 bleeding into the close on lower volume with ugly internals. This week DJIA -24, since 09/23/05 DJIA +565.
Indexes UP: DJTA, XOI, XAU. DOWN: DJUA, NDX, NAZ, SOX, MID & RUT.
Sectors UP: Gold Bugs, Energy, Oil, Natural Gas. DOWN: Tech, Semis, Banking, Healthcare
Overseas: DAX, CAC, FTSE , Hang Seng & Nikkei 225 UP.
Dollar DOWN vs. Euro 1.2656 & vs. Yen 112.45, XAU UP & gold DOWN @ 658, XOI & crude UP @ 74.03, CRB commodities index UP @ 355.22. Dollar at 1 yr low vs Euro & 7 month low vs Yen.
Market Observations in another post.
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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