Market Soapbox 06/09/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10875; SP500 1245; Nasdaq 2135; NDX 1555
Market Observations and economic reports in todays other posts.
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.02%; 10 yr @ 4.97; 5 yr @ 4.93; 2yr @ 5.00`; 6 mo @ 5.05.
Recent Inversions: 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 -?; 2yr above 10yr 06/08 - ?
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.
THU, a split tape day, down 170 points, then a late rebound into the close. DJIA +8 on higher volume with ugly internals.
FRI, another choppy day bleeding into the close, DJIA -47 on much lower volume with rough internals. This week DJIA -356, since 09/19/05 DJIA +251.
Indexes UP: DJUA DOWN: All others, XAU, XOI, NDX, RUT, OEX slapped hard
Sectors UP: Brokers, Utilities DOWN: All others, Energy, Commodity, Gold Bugs BIG
Overseas: DAX , FTSE, CAC all UP +1.5% Hang Seng & Nikkei 225 UP.
Dollar FLAT vs. Euro 1.2649 & DOWN vs. Yen 113.75, XAU & gold DOWN @ 610.2, XOI DOWN & crude UP 1.8% @ 71.63, CRB commodities index UP @ 340.09.
Support: DJIA 10875; SP500 1245; Nasdaq 2135; NDX 1555
Market Observations and economic reports in todays other posts.
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.02%; 10 yr @ 4.97; 5 yr @ 4.93; 2yr @ 5.00`; 6 mo @ 5.05.
Recent Inversions: 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 -?; 2yr above 10yr 06/08 - ?
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.
THU, a split tape day, down 170 points, then a late rebound into the close. DJIA +8 on higher volume with ugly internals.
FRI, another choppy day bleeding into the close, DJIA -47 on much lower volume with rough internals. This week DJIA -356, since 09/19/05 DJIA +251.
Indexes UP: DJUA DOWN: All others, XAU, XOI, NDX, RUT, OEX slapped hard
Sectors UP: Brokers, Utilities DOWN: All others, Energy, Commodity, Gold Bugs BIG
Overseas: DAX , FTSE, CAC all UP +1.5% Hang Seng & Nikkei 225 UP.
Dollar FLAT vs. Euro 1.2649 & DOWN vs. Yen 113.75, XAU & gold DOWN @ 610.2, XOI DOWN & crude UP 1.8% @ 71.63, CRB commodities index UP @ 340.09.
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