Market Soapbox 08/18/06
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 @ 4.97%; 10 yr @ 4.84; 5 yr @ 4.78; 2yr @ 4.87; 6 mo @ 5.18.
Recent Inversions: 2yr above 10 yr 12/27 - 03/07; 03/20 - 3/29; 06/08 - 07/26. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29; 6mo & 2yr above 30yr 06/13 - 07/20.
2yr above 10yr 08/03 - ?; 6mo above 10yr 06/02 -?; 6mo above 30yr 06/13 - ?
MON, early triple digit bounce, then a slip, bleeding into the close. DJIA +10 on low volume with deceiving internals.
TUE, a broadbased triple digit bounce, DJIA +132 on low volume with "seemingly pretty" internals.
WEN, followthrough, DJIA +97 on average volume with nice internals.
THU, up 45 early then a sputter, DJIA +8 on average volume with decent internals.
FRI, slow start climbing into the close, DJIA +47 on average volume with ok internals. This week DJIA +294, since 09/19/05 DJIA +720.
Indexes UP: DJUA, AMEX, XOI DOWN: DJTA.
Sectors UP: Tech, Energy, Utilities, Commodity. DOWN: Cyclical, Transports, Brokers, Airlines.
Overseas: DAX, CAC, Hang Seng DOWN, FTSE & Nikkei UP.
Dollar DOWN vs. Euro 1.2849 & vs. Yen 115.34, XAU UP & gold DOWN @ 621.7, XOI +1% & crude UP @ $72.10, CRB commodities index UP @ 332.32.
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 4.97%; 10 yr @ 4.84; 5 yr @ 4.78; 2yr @ 4.87; 6 mo @ 5.18.
Recent Inversions: 2yr above 10 yr 12/27 - 03/07; 03/20 - 3/29; 06/08 - 07/26. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29; 6mo & 2yr above 30yr 06/13 - 07/20.
2yr above 10yr 08/03 - ?; 6mo above 10yr 06/02 -?; 6mo above 30yr 06/13 - ?
MON, early triple digit bounce, then a slip, bleeding into the close. DJIA +10 on low volume with deceiving internals.
TUE, a broadbased triple digit bounce, DJIA +132 on low volume with "seemingly pretty" internals.
WEN, followthrough, DJIA +97 on average volume with nice internals.
THU, up 45 early then a sputter, DJIA +8 on average volume with decent internals.
FRI, slow start climbing into the close, DJIA +47 on average volume with ok internals. This week DJIA +294, since 09/19/05 DJIA +720.
Indexes UP: DJUA, AMEX, XOI DOWN: DJTA.
Sectors UP: Tech, Energy, Utilities, Commodity. DOWN: Cyclical, Transports, Brokers, Airlines.
Overseas: DAX, CAC, Hang Seng DOWN, FTSE & Nikkei UP.
Dollar DOWN vs. Euro 1.2849 & vs. Yen 115.34, XAU UP & gold DOWN @ 621.7, XOI +1% & crude UP @ $72.10, CRB commodities index UP @ 332.32.
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