Market Soapbox 06/13/06
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 post.
MAJOR YIELD CURVE INVERSION: Bonds UPwith the 30 yr yield falling @ 5.01%; 10 yr @ 4.96; 5 yr @ 4.92; 2yr @ 5.00`; 6 mo @ 5.10.
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 - ? 6mo above 30yr 06/13 - ?
MON, its deja vu all over again... almost another broadbased triple digit selloff low volume with absolutely horrific internals. A real burial in the last 2 hours of trading DJIA-99.
TUE, more of the same, foreign markets and commodities crushed, broadbased decline on higher volume with abysmal internals, crashing into the close DJIA -86. This week DJIA -185, since 09/19/05 DJIA +66.
Indexes UP: None DOWN: Everything pounded down in a bloody sea of red
Sectors UP: Heathcare DOWN: Everything else CRUSHED Gold Bugs -5%, Brokers -4.75%
Overseas: DAX , FTSE, CAC, Hang Seng all DOWN BIG -2.5%, & Nikkei 225 CRUSHED -4.2%.
Dollar UP vs. Euro 1.2624 & +1% vs. Yen 113.77, XAU -4% & gold -7.2% DOWN @ 566.8, XOI DOWN -2.9% & crude DOWN -2.5% @ 68.56, CRB commodities index DOWN-2.4% @ 330.23.
Commodities CRUSHED: Unleaded -3.4%, Silver -13%, Copper -6.8%, Platinum -4.5%
Support: DJIA 10875; SP500 1245; Nasdaq 2135; NDX 1555
Market observations and economic reports in todays other post.
MAJOR YIELD CURVE INVERSION: Bonds UPwith the 30 yr yield falling @ 5.01%; 10 yr @ 4.96; 5 yr @ 4.92; 2yr @ 5.00`; 6 mo @ 5.10.
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 - ? 6mo above 30yr 06/13 - ?
MON, its deja vu all over again... almost another broadbased triple digit selloff low volume with absolutely horrific internals. A real burial in the last 2 hours of trading DJIA-99.
TUE, more of the same, foreign markets and commodities crushed, broadbased decline on higher volume with abysmal internals, crashing into the close DJIA -86. This week DJIA -185, since 09/19/05 DJIA +66.
Indexes UP: None DOWN: Everything pounded down in a bloody sea of red
Sectors UP: Heathcare DOWN: Everything else CRUSHED Gold Bugs -5%, Brokers -4.75%
Overseas: DAX , FTSE, CAC, Hang Seng all DOWN BIG -2.5%, & Nikkei 225 CRUSHED -4.2%.
Dollar UP vs. Euro 1.2624 & +1% vs. Yen 113.77, XAU -4% & gold -7.2% DOWN @ 566.8, XOI DOWN -2.9% & crude DOWN -2.5% @ 68.56, CRB commodities index DOWN-2.4% @ 330.23.
Commodities CRUSHED: Unleaded -3.4%, Silver -13%, Copper -6.8%, Platinum -4.5%
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