Market Soapbox 07/20/06
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 @ 5.07%; 10 yr @ 5.02; 5 yr @ 4.97; 2yr @ 5.05; 6 mo @ 5.21. 2yr went below 30 yr today.
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, a choppy split tape day DJIA +8 on lower volume with ugly internals.
TUE, a down day till 2PM, DJIA +52 on higher but average volume with midlin internals.
WEN, followthrough DJIA +212 on higher but average volume with pretty internals.
THU, a no confidence vote bleeding into the close, DJIA -83 on lower but average volume with ugly internals. This week DJIA +189, since 09/19/05 DJIA +346.
Indexes UP: DJUA DOWN: Everything else, DJTA -4.4%, NAZ -2%, SOX -2.5%, MID -2.25%, RUT -2.67%, XAU & XOI all slapped BIG.
Sectors UP: Pharma, Utilities. DOWN: Everything else punked, Energy, Tech, Commodity, Transports, Cyclical, Gold Bugs, Airline all BIG.
Overseas: FTSE DOWN, CAC, DAX UP, Hang Seng & Nikkei 225 UP BIG.
Dollar DOWN vs. Euro 1.2657 & vs. Yen 115.76, XAU DOWN -4.3% & gold -1.6% @ 632.5, XOI -1.4% & crude DOWN -1% @ $74.05, CRB commodities index DOWN @ 340.13
Economic reports and market observations in todays other posts.
Support: DJIA 10650, SP500 1210, Nasdaq 2050; NDX 1475
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.07%; 10 yr @ 5.02; 5 yr @ 4.97; 2yr @ 5.05; 6 mo @ 5.21. 2yr went below 30 yr today.
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, a choppy split tape day DJIA +8 on lower volume with ugly internals.
TUE, a down day till 2PM, DJIA +52 on higher but average volume with midlin internals.
WEN, followthrough DJIA +212 on higher but average volume with pretty internals.
THU, a no confidence vote bleeding into the close, DJIA -83 on lower but average volume with ugly internals. This week DJIA +189, since 09/19/05 DJIA +346.
Indexes UP: DJUA DOWN: Everything else, DJTA -4.4%, NAZ -2%, SOX -2.5%, MID -2.25%, RUT -2.67%, XAU & XOI all slapped BIG.
Sectors UP: Pharma, Utilities. DOWN: Everything else punked, Energy, Tech, Commodity, Transports, Cyclical, Gold Bugs, Airline all BIG.
Overseas: FTSE DOWN, CAC, DAX UP, Hang Seng & Nikkei 225 UP BIG.
Dollar DOWN vs. Euro 1.2657 & vs. Yen 115.76, XAU DOWN -4.3% & gold -1.6% @ 632.5, XOI -1.4% & crude DOWN -1% @ $74.05, CRB commodities index DOWN @ 340.13
Economic reports and market observations in todays other posts.
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