Market Soapbox 08/01/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.06%; 10 yr @ 4.97; 5 yr @ 4.89; 2yr @ 4.95; 6 mo @ 5.11.
Yield Curve Reversion: 2yr below 30yr for 9th day. 2yr below 10yr 3rd 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 treading water day, fading into the close, DJIA -34 on lower volume with midlin internals.
TUE, rolling down a step in an ugly way, DJIA -60 on average volume with butt ugly internals. This week DJIA -94, since 09/19/05 DJIA +484.
Indexes UP: DJUA +1.1%, XAU DOWN: Everything else slapped silly
Sectors UP: Gold Bugs, Utilities, Healthcare. DOWN: Everything else got the slap down.
Overseas: FTSE, CAC, DAX, Hang Seng & Nikkei all DOWN.
Dollar DOWN vs. Euro 1.2845 & vs. Yen 113.83, XAU +2.5% & gold UP 1.9% @ 646.3, XOI DOWN & crude UP @ $74.92, CRB commodities index DOWN @ 349.56. Natural Gas: Yesterday +15%, today -7.7%.
Market observations and economic reports in todays other posts.
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.06%; 10 yr @ 4.97; 5 yr @ 4.89; 2yr @ 4.95; 6 mo @ 5.11.
Yield Curve Reversion: 2yr below 30yr for 9th day. 2yr below 10yr 3rd 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 treading water day, fading into the close, DJIA -34 on lower volume with midlin internals.
TUE, rolling down a step in an ugly way, DJIA -60 on average volume with butt ugly internals. This week DJIA -94, since 09/19/05 DJIA +484.
Indexes UP: DJUA +1.1%, XAU DOWN: Everything else slapped silly
Sectors UP: Gold Bugs, Utilities, Healthcare. DOWN: Everything else got the slap down.
Overseas: FTSE, CAC, DAX, Hang Seng & Nikkei all DOWN.
Dollar DOWN vs. Euro 1.2845 & vs. Yen 113.83, XAU +2.5% & gold UP 1.9% @ 646.3, XOI DOWN & crude UP @ $74.92, CRB commodities index DOWN @ 349.56. Natural Gas: Yesterday +15%, today -7.7%.
Market observations and economic reports in todays other posts.
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