Market Soapbox 06/07/06
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. News in todays other post. DJIA falls to a 3 month low, Intel flirting with a 3 year low, YTD market leader Energy +9.2%.
YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 5.08%; 10 yr @ 5.02; 5 yr @ 4.96; 2yr @ 5.00`; 6 mo @ 5.04. 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.
WEN, up 75 early, then a reversal, tanking into the close, DJIA -71 on lighter volume with horrid internals. This week DJIA -317, since 09/19/05 DJIA +290.
Indexes UP: None DOWN: All BIG, SOX, XAU, XOI slapped silly
Sectors UP: Healthcare, Banking, Pharma, Airlines, Brokers DOWN: Semis, Commodities, Energy, Gold Bugs all SLAMMED
Overseas: DAX , FTSE UP, CAC DOWN, Hang Seng & Nikkei 225 POUNDED DOWN.
Dollar UP vs. Euro 1.2806 & vs. Yen 113.27, XAU -2.6% & gold DOWN @ 627, XOI -2.8% & crude DOWN @ 70.51, CRB commodities index DOWN @ 343.22.
Yesterday: A little dead cat bounce on the morrow?? We got it early and it petered out. Commodities, Energy, Materials & Gold all got whacked. Tomorrows 10 year auction, ECB & BOE announcements will make life interesting.
Next week brings CPI & PPI, if these numbers cause inflation concerns, more downside in the near term.
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. News in todays other post. DJIA falls to a 3 month low, Intel flirting with a 3 year low, YTD market leader Energy +9.2%.
YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 5.08%; 10 yr @ 5.02; 5 yr @ 4.96; 2yr @ 5.00`; 6 mo @ 5.04. 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.
WEN, up 75 early, then a reversal, tanking into the close, DJIA -71 on lighter volume with horrid internals. This week DJIA -317, since 09/19/05 DJIA +290.
Indexes UP: None DOWN: All BIG, SOX, XAU, XOI slapped silly
Sectors UP: Healthcare, Banking, Pharma, Airlines, Brokers DOWN: Semis, Commodities, Energy, Gold Bugs all SLAMMED
Overseas: DAX , FTSE UP, CAC DOWN, Hang Seng & Nikkei 225 POUNDED DOWN.
Dollar UP vs. Euro 1.2806 & vs. Yen 113.27, XAU -2.6% & gold DOWN @ 627, XOI -2.8% & crude DOWN @ 70.51, CRB commodities index DOWN @ 343.22.
Yesterday: A little dead cat bounce on the morrow?? We got it early and it petered out. Commodities, Energy, Materials & Gold all got whacked. Tomorrows 10 year auction, ECB & BOE announcements will make life interesting.
Next week brings CPI & PPI, if these numbers cause inflation concerns, more downside in the near term.
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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