Market Soapbox 07/25/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 5.12%; 10 yr @ 5.06; 5 yr @ 5.02; 2yr @ 5.11; 6 mo @ 5.25. 2yr below 30yr for 4th day.
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 - 07/20; 6mo above 10yr 06/02 -?; 2yr above 10yr 06/08 - ? 6mo above 30yr 06/13 - ?
MON, a triple digit bounce DJIA +183 on lower but average volume with nice internals.
TUE, DJIA +53 in a choppy day with late followthough on low volume and midlin internals. This week DJIA +236, since 09/19/05 DJIA +462.
Indexes UP: XAU, XOI, RUT, SOX, MID DOWN: DJTA -1.8%
Sectors UP: Everything cept. DOWN: Transports and some tech issues.
Overseas: FTSE, CAC UP DAX DOWN, Hang Seng & Nikkei 225 UP.
Dollar UP vs. Euro 1.2625 & vs. Yen 116.3, XAU +1.6% & gold UP @ 618, XOI & crude DOWN -1.7% @ $73.75, CRB commodities index DOWN @ 340.74
Market Observations and economic reports in todays other post.
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 5.12%; 10 yr @ 5.06; 5 yr @ 5.02; 2yr @ 5.11; 6 mo @ 5.25. 2yr below 30yr for 4th day.
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 - 07/20; 6mo above 10yr 06/02 -?; 2yr above 10yr 06/08 - ? 6mo above 30yr 06/13 - ?
MON, a triple digit bounce DJIA +183 on lower but average volume with nice internals.
TUE, DJIA +53 in a choppy day with late followthough on low volume and midlin internals. This week DJIA +236, since 09/19/05 DJIA +462.
Indexes UP: XAU, XOI, RUT, SOX, MID DOWN: DJTA -1.8%
Sectors UP: Everything cept. DOWN: Transports and some tech issues.
Overseas: FTSE, CAC UP DAX DOWN, Hang Seng & Nikkei 225 UP.
Dollar UP vs. Euro 1.2625 & vs. Yen 116.3, XAU +1.6% & gold UP @ 618, XOI & crude DOWN -1.7% @ $73.75, CRB commodities index DOWN @ 340.74
Market Observations and economic reports in todays other post.
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