Market Soapbox 05/04 & 05/05/06
Resistance: DJIA 11600; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 11075; SP500 1285; Nasdaq 2275; NDX 1670
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Thurs. Microsoft -3.5% at a 52 week low. Gasoline prices +13 this month, crude -6.5% Wen & Thurs.
Are people spending less? Consumer credit rose $2.5 billion, in April, the smallest increase in four months.
Bonds UP with the 30 yr yield falling @ 5.19%; 10 yr @ 5.10; 5 yr @ 4.98; 2yr @ 4.93; 6 mo @ 4.98. 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. TUE, a broadbased bounce on lower volume with decent internals DJIA +73.
WEN, DJIA -16 on lower volume with ugly internals. THURS, a small bounce DJIA +39 on steady volume with decent internals. DJTA up 4%, crude down, XOI punished.
FRI, Boomarang, a low non farms number jacked the markets up DJIA +139 on lower volume with nice internals. This week DJIA +172, since 09/23/05 DJIA +761.
Indexes UP: ALL UP BIG, except SOX. DOWN: XAU
Sectors UP: Most everything popping up BIG DOWN: Gold Bugs, Networking
Overseas: DAX, CAC, FTSE, Hang Seng & Nikkei 225 ALL UP BIG.
Dollar DOWN BIG vs. Euro 1.2779 & vs. Yen 111.61, XAU DOWN & gold UP @ 684.30, XOI & crude UP @ 70.19, CRB commodities index UP @ 351.92.
New all time and 5-6 year highs except DJUA, NDX, NAZ & SOX. Non Farm Payrolls was under 200K, easing inflation fears and causing a bond and equity markets rally.
Next weeks FOMC statement will be critical. 3yr note auction Tues & 10yr note auction Thurs. Options unwind Wend. I sense SP500 1335 & NDX 1750 for the next top.
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 2275; NDX 1670
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Thurs. Microsoft -3.5% at a 52 week low. Gasoline prices +13 this month, crude -6.5% Wen & Thurs.
Are people spending less? Consumer credit rose $2.5 billion, in April, the smallest increase in four months.
Bonds UP with the 30 yr yield falling @ 5.19%; 10 yr @ 5.10; 5 yr @ 4.98; 2yr @ 4.93; 6 mo @ 4.98. 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. TUE, a broadbased bounce on lower volume with decent internals DJIA +73.
WEN, DJIA -16 on lower volume with ugly internals. THURS, a small bounce DJIA +39 on steady volume with decent internals. DJTA up 4%, crude down, XOI punished.
FRI, Boomarang, a low non farms number jacked the markets up DJIA +139 on lower volume with nice internals. This week DJIA +172, since 09/23/05 DJIA +761.
Indexes UP: ALL UP BIG, except SOX. DOWN: XAU
Sectors UP: Most everything popping up BIG DOWN: Gold Bugs, Networking
Overseas: DAX, CAC, FTSE, Hang Seng & Nikkei 225 ALL UP BIG.
Dollar DOWN BIG vs. Euro 1.2779 & vs. Yen 111.61, XAU DOWN & gold UP @ 684.30, XOI & crude UP @ 70.19, CRB commodities index UP @ 351.92.
New all time and 5-6 year highs except DJUA, NDX, NAZ & SOX. Non Farm Payrolls was under 200K, easing inflation fears and causing a bond and equity markets rally.
Next weeks FOMC statement will be critical. 3yr note auction Tues & 10yr note auction Thurs. Options unwind Wend. I sense SP500 1335 & NDX 1750 for the next top.
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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