Market Soapbox 08/02/06
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 @ 5.04%; 10 yr @ 4.96; 5 yr @ 4.88; 2yr @ 4.95; 6 mo @ 5.10.
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.
2yr above 10yr 06/08 - 7/26; 6mo & 2yr above 30yr 06/13 - 07/20; 6mo above 10yr 06/02 -?; 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.
WEN, convictionless bounce DJIA +74 on lower volume with nice internals. This week DJIA -20, since 09/19/05 DJIA +558.
Indexes UP: XAU, MID, RUT, SOX, NDX, NAZ DOWN: DJUA, XOI
Sectors UP: Everything cept DOWN: Natural Gas, Utilities, Pharma.
Overseas: FTSE, CAC, DAX, Hang Seng & Nikkei all UP.
Dollar DOWN vs. Euro 1.2857 & vs. Yen 113.84, XAU +1.5% & gold UP @ 651.6, XOI DOWN & crude +1.2% @ $75.81, CRB commodities index UP 1.1% @ 353.69.
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 @ 5.04%; 10 yr @ 4.96; 5 yr @ 4.88; 2yr @ 4.95; 6 mo @ 5.10.
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.
2yr above 10yr 06/08 - 7/26; 6mo & 2yr above 30yr 06/13 - 07/20; 6mo above 10yr 06/02 -?; 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.
WEN, convictionless bounce DJIA +74 on lower volume with nice internals. This week DJIA -20, since 09/19/05 DJIA +558.
Indexes UP: XAU, MID, RUT, SOX, NDX, NAZ DOWN: DJUA, XOI
Sectors UP: Everything cept DOWN: Natural Gas, Utilities, Pharma.
Overseas: FTSE, CAC, DAX, Hang Seng & Nikkei all UP.
Dollar DOWN vs. Euro 1.2857 & vs. Yen 113.84, XAU +1.5% & gold UP @ 651.6, XOI DOWN & crude +1.2% @ $75.81, CRB commodities index UP 1.1% @ 353.69.
Market observations and economic reports in todays other posts.
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