Market Soapbox 08/04/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds UP BIG with the 30 yr yield falling @ 4.99%; 10 yr @ 4.90; 5 yr @ 4.83; 2yr @ 4.91; 6 mo @ 5.03.
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 - ? 2 yr went above 10yr 2nd day 08/03.
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.
THU, some followthrough, DJIA +42 on lower but average volume with pretty internals.
FRI, a triple digit spike to the upside DJIA +100, then a 102 point reversal. DJIA -2 on average volume with ugly internals. This week DJIA +20, since 09/19/05 DJIA +598.
Indexes UP: NYSE, XOI DOWN: DJTA, NDX, SOXX, MID, RUT
Sectors UP: Banking, Healthcare, Brokers DOWN: Tech, Transports, Commodity, Energy, Biotech, Gold Bugs.
Overseas: FTSE, CAC, DAX & Nikkei UP; Hang Seng DOWN.
Dollar DOWN vs. Euro 1.2921 & vs. Yen 113.61, XAU & gold DOWN @ 644, XOI UP & crude -1% @ $74.76, CRB commodities index UP @ 350.05.
Market observations and economic reports in todays other posts.
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds UP BIG with the 30 yr yield falling @ 4.99%; 10 yr @ 4.90; 5 yr @ 4.83; 2yr @ 4.91; 6 mo @ 5.03.
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 - ? 2 yr went above 10yr 2nd day 08/03.
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.
THU, some followthrough, DJIA +42 on lower but average volume with pretty internals.
FRI, a triple digit spike to the upside DJIA +100, then a 102 point reversal. DJIA -2 on average volume with ugly internals. This week DJIA +20, since 09/19/05 DJIA +598.
Indexes UP: NYSE, XOI DOWN: DJTA, NDX, SOXX, MID, RUT
Sectors UP: Banking, Healthcare, Brokers DOWN: Tech, Transports, Commodity, Energy, Biotech, Gold Bugs.
Overseas: FTSE, CAC, DAX & Nikkei UP; Hang Seng DOWN.
Dollar DOWN vs. Euro 1.2921 & vs. Yen 113.61, XAU & gold DOWN @ 644, XOI UP & crude -1% @ $74.76, CRB commodities index UP @ 350.05.
Market observations and economic reports in todays other posts.
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