Market Soapbox 07/14/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10650, SP500 1210, Nasdaq 2050; NDX 1475
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.11%; 10 yr @ 5.06; 5 yr @ 5.02; 2yr @ 5.09; 6 mo @ 5.25.
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 & 2yr above 30yr 06/13 - ?; 6mo above 10yr 06/02 -?; 2yr above 10yr 06/08 - ? 6mo above 30yr 06/13 - ?
MON, DJIA +13, a split tape day on lower volume with midlin internals.
TUE, DJIA +31 on higher but average volume with decent internals. Started down big then a 90 point reversal into the close.
WEN, no followthrough, a triple digit burial DJIA -122 on slightly lower volume with ugly internals.
THU, followthrough, another triple digit broadbased slapdown. DJIA -167 on higher but average volume with devastating internals.
FRI, THREE PEAT, another triple digit lambasting, DJIA -107 on slightly lower but average volume with ugly internals. This week DJIA -352, since 09/19/05 DJIA +84.
Indexes UP: DJUA, XAU, XOI. DOWN: Everything else slapped down.
Sectors UP: Gold Bugs, Natural Gas, Oil, Commodity. DOWN: Everything else trashed. Homebuilders & REIT's bludgeoned.
Overseas: FTSE, CAC, DAX, Hang Seng & Nikkei 225 ALL DOWN BIG.
Dollar UP vs. Euro 1.2699 & vs. Yen 115.08, XAU & gold UP @ 665.4, XOI & crude UP @ 76.80, CRB commodities index UP @ 357.21
Market observations and economic reports in todays other post.
Support: DJIA 10650, SP500 1210, Nasdaq 2050; NDX 1475
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.11%; 10 yr @ 5.06; 5 yr @ 5.02; 2yr @ 5.09; 6 mo @ 5.25.
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 & 2yr above 30yr 06/13 - ?; 6mo above 10yr 06/02 -?; 2yr above 10yr 06/08 - ? 6mo above 30yr 06/13 - ?
MON, DJIA +13, a split tape day on lower volume with midlin internals.
TUE, DJIA +31 on higher but average volume with decent internals. Started down big then a 90 point reversal into the close.
WEN, no followthrough, a triple digit burial DJIA -122 on slightly lower volume with ugly internals.
THU, followthrough, another triple digit broadbased slapdown. DJIA -167 on higher but average volume with devastating internals.
FRI, THREE PEAT, another triple digit lambasting, DJIA -107 on slightly lower but average volume with ugly internals. This week DJIA -352, since 09/19/05 DJIA +84.
Indexes UP: DJUA, XAU, XOI. DOWN: Everything else slapped down.
Sectors UP: Gold Bugs, Natural Gas, Oil, Commodity. DOWN: Everything else trashed. Homebuilders & REIT's bludgeoned.
Overseas: FTSE, CAC, DAX, Hang Seng & Nikkei 225 ALL DOWN BIG.
Dollar UP vs. Euro 1.2699 & vs. Yen 115.08, XAU & gold UP @ 665.4, XOI & crude UP @ 76.80, CRB commodities index UP @ 357.21
Market observations and economic reports in todays other post.
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