Market Soapbox 05/15/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 11075; SP500 1285; Nasdaq 2225; NDX 1630
In our top story tonight, Generalissimo Francisco Franco is STILL dead. The guts of the market, small & mid Caps, Semis, Gold & Oil issues all got hammered despite a major pullback in commodities futures. NOT a good sign.
Bonds UP with the 30 yr yield falling @ 5.27%; 10 yr @ 5.15; 5 yr @ 5.03; 2yr @ 4.98; 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, a wicked up & down day, DJIA a deceiving +48 with a late surge, on steady volume with butt ugly internals. This week DJIA +48, since 09/19/05 DJIA +787.
Indexes UP: DJUA, OEX. DOWN: MID, RUT, XOI, XAU -6%.
Sectors UP: Airlines, Pharma, Consumer, Healthcare, Banking DOWN: Gold Bugs -7%, Natural Gas, Oil, Brokers, Commodity, Cyclical, Semis
Overseas: DAX , CAC, FTSE, Hang Seng & Nikkei 225 all DOWN BIG TIME.
Dollar UP vs. Euro 1.2843 & vs. Yen 109.66, XAU -6% & gold DOWN @ 681, XOI & crude DOWN @ 68.87, CRB commodities index DOWN @ 352.06
While everything else got hammered, today, "appearances" were maintained with the DJIA, SP500, $ & the bond market going up.
Tech got pounded, again. The SOX was up 16% in Feb, but has downtrended since. SOX, NAZ & NDX have fallen through long term support 75 DMA. MID & RUT sliced through while SP500 fell through and grabbed onto 75 DMA today. XOI & OEX are sitting on it.
In reality, 3 straight sickly days, tomorrow a bounce? The CPI awaits and someone needs to goose the inflation number, lest the market belch and fall over some more.
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 2225; NDX 1630
In our top story tonight, Generalissimo Francisco Franco is STILL dead. The guts of the market, small & mid Caps, Semis, Gold & Oil issues all got hammered despite a major pullback in commodities futures. NOT a good sign.
Bonds UP with the 30 yr yield falling @ 5.27%; 10 yr @ 5.15; 5 yr @ 5.03; 2yr @ 4.98; 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, a wicked up & down day, DJIA a deceiving +48 with a late surge, on steady volume with butt ugly internals. This week DJIA +48, since 09/19/05 DJIA +787.
Indexes UP: DJUA, OEX. DOWN: MID, RUT, XOI, XAU -6%.
Sectors UP: Airlines, Pharma, Consumer, Healthcare, Banking DOWN: Gold Bugs -7%, Natural Gas, Oil, Brokers, Commodity, Cyclical, Semis
Overseas: DAX , CAC, FTSE, Hang Seng & Nikkei 225 all DOWN BIG TIME.
Dollar UP vs. Euro 1.2843 & vs. Yen 109.66, XAU -6% & gold DOWN @ 681, XOI & crude DOWN @ 68.87, CRB commodities index DOWN @ 352.06
While everything else got hammered, today, "appearances" were maintained with the DJIA, SP500, $ & the bond market going up.
Tech got pounded, again. The SOX was up 16% in Feb, but has downtrended since. SOX, NAZ & NDX have fallen through long term support 75 DMA. MID & RUT sliced through while SP500 fell through and grabbed onto 75 DMA today. XOI & OEX are sitting on it.
In reality, 3 straight sickly days, tomorrow a bounce? The CPI awaits and someone needs to goose the inflation number, lest the market belch and fall over some more.
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!!!
Comments