Market Observations 08/16/06
The Fed pause, cease fire in Lebanon and softening economic news has crude pulling back (under $72 intraday) and interest rate inflation fears easing.
Bond yields have fallen to 4 month lows and equities are jumping (excepting energy and utilities).
The RUT went through overhead resistance @ 700, and touched 708. A breakthrough 716 may signal 740 to the upside, cavaet emptor as 665 still awaits below.
The tech "bargain" herd is leading the way with 3 straight +1% days on the NAZ. This is an ambiguous time as the market has been fickle and wrought with tech led headfakes of late. A nice 2 day rocket ride, but....
Watch Google's overhead resistance at 400. The NDX touched 1567 and is heading for a major Waterloo at 1574 where a stall and fall from grace could be waiting the 21st or 22nd. Lets see.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
Bond yields have fallen to 4 month lows and equities are jumping (excepting energy and utilities).
The RUT went through overhead resistance @ 700, and touched 708. A breakthrough 716 may signal 740 to the upside, cavaet emptor as 665 still awaits below.
The tech "bargain" herd is leading the way with 3 straight +1% days on the NAZ. This is an ambiguous time as the market has been fickle and wrought with tech led headfakes of late. A nice 2 day rocket ride, but....
Watch Google's overhead resistance at 400. The NDX touched 1567 and is heading for a major Waterloo at 1574 where a stall and fall from grace could be waiting the 21st or 22nd. Lets see.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
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