Market Soapbox 06/15/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10650, SP500 1210, Nasdaq 2050; NDX 1500
Economic and market observations in today's other posts.
MAJOR YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 5.13%; 10 yr @ 5.10; 5 yr @ 5.07; 2yr @ 5.13`; 6 mo @ 5.18.
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 & 2yr 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.
WEN, a triple digit bounce DJIA +110 on steady lower volume with decent internals excepting 52 week hi/lo.
THU, back to back trips DJIA +198 with a broadbased bounce on LOWER volume with pretty internals, except 52 week hi/lo. This week DJIA +123, since 09/19/05 DJIA +374.
Indexes UP: ALL BIG TIME DOWN: None Sectors UP: Nothing but contrails. DOWN: None
Overseas: DAX , FTSE, CAC , Hang Seng & Nikkei 225 ALL UP BIG.
Dollar DOWN vs. Euro 1.2696 & vs. Yen 113.41, XAU +4.6% & gold UP @ 570.3, XOI +3.1% & crude UP @ 69.50, CRB commodities index UP +1.8% @ 337.96. Natural Gas +9.3%, Silver +2.4%, Copper +5.2%, Platinum +1.9%
Support: DJIA 10650, SP500 1210, Nasdaq 2050; NDX 1500
Economic and market observations in today's other posts.
MAJOR YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 5.13%; 10 yr @ 5.10; 5 yr @ 5.07; 2yr @ 5.13`; 6 mo @ 5.18.
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 & 2yr 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.
WEN, a triple digit bounce DJIA +110 on steady lower volume with decent internals excepting 52 week hi/lo.
THU, back to back trips DJIA +198 with a broadbased bounce on LOWER volume with pretty internals, except 52 week hi/lo. This week DJIA +123, since 09/19/05 DJIA +374.
Indexes UP: ALL BIG TIME DOWN: None Sectors UP: Nothing but contrails. DOWN: None
Overseas: DAX , FTSE, CAC , Hang Seng & Nikkei 225 ALL UP BIG.
Dollar DOWN vs. Euro 1.2696 & vs. Yen 113.41, XAU +4.6% & gold UP @ 570.3, XOI +3.1% & crude UP @ 69.50, CRB commodities index UP +1.8% @ 337.96. Natural Gas +9.3%, Silver +2.4%, Copper +5.2%, Platinum +1.9%
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