Market Soapbox 06/06/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10875; SP500 1245; Nasdaq 2135; NDX 1555
In our top story tonight, Generalissimo Francisco Franco is STILL dead. For the first time since March, the DJIA dipped below 11,000 today. Yesterday a 19.3% increase in the VIX, showing a jittery herd hedging their positions.
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.08%; 10 yr @ 5.00; 5 yr @ 4.94; 2yr @ 4.99`; 6 mo @ 5.02. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29. 6mo above 10yr 06/02.
MON, a broadbased triple digit selloff on very low volume with absolutely horrific internals. A real burial in the last 2 hours of trading DJIA-199.
TUE, at one point back to back TRIPS DOWN, but bouncing BIGTIME into the close on higher volume with ugly internals DJIA -47. This week DJIA -246, since 09/19/05 DJIA +361.
Indexes UP: None DOWN: All BIG Sectors UP: Telecom, Networking DOWN: All others BIG
Overseas: DAX , CAC, FTSE, Hang Seng & Nikkei 225 ALL DOWN BIG.
Dollar UP vs. Euro 1.2840 & vs. Yen 113.13, XAU -2.8% & gold DOWN 2% @ 631.90, XOI & crude DOWN @ 72.50, CRB commodities index DOWN @ 344.78.
The market leading RUT now 10% down from its historic high, the NAZ at its worst level in 6 months. HGX Philly housing sector index plunging to new 52 week low, YTD a market leading -31%.
Perhaps, a little dead cat bounce on the morrow?? More 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 10875; SP500 1245; Nasdaq 2135; NDX 1555
In our top story tonight, Generalissimo Francisco Franco is STILL dead. For the first time since March, the DJIA dipped below 11,000 today. Yesterday a 19.3% increase in the VIX, showing a jittery herd hedging their positions.
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.08%; 10 yr @ 5.00; 5 yr @ 4.94; 2yr @ 4.99`; 6 mo @ 5.02. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29. 6mo above 10yr 06/02.
MON, a broadbased triple digit selloff on very low volume with absolutely horrific internals. A real burial in the last 2 hours of trading DJIA-199.
TUE, at one point back to back TRIPS DOWN, but bouncing BIGTIME into the close on higher volume with ugly internals DJIA -47. This week DJIA -246, since 09/19/05 DJIA +361.
Indexes UP: None DOWN: All BIG Sectors UP: Telecom, Networking DOWN: All others BIG
Overseas: DAX , CAC, FTSE, Hang Seng & Nikkei 225 ALL DOWN BIG.
Dollar UP vs. Euro 1.2840 & vs. Yen 113.13, XAU -2.8% & gold DOWN 2% @ 631.90, XOI & crude DOWN @ 72.50, CRB commodities index DOWN @ 344.78.
The market leading RUT now 10% down from its historic high, the NAZ at its worst level in 6 months. HGX Philly housing sector index plunging to new 52 week low, YTD a market leading -31%.
Perhaps, a little dead cat bounce on the morrow?? More 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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