Market Soapbox 08/29/06
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 @ 4.93%; 10 yr @ 4.78; 5 yr @ 4.76; 2yr @ 4.86; 6 mo @ 5.16.
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, broadbased bounce DJIA +68 on low volume with nice internals.
TUE, down & up, chop city DJIA +18 on low volume with OK internals. This week DJIA +86, since 09/19/05 DJIA +710.
Indexes UP: MID, RUT, SOXX DOWN: XOI, DJTA.
Sectors UP: Airlines, Networking, Telecom, Pharma, Tech, Healthcare DOWN: Banking, Brokers, Energy, Tranports.
Overseas: DAX DOWN, FTSE, CAC, Hang Seng & Nikkei UP.
Dollar DOWN vs. Euro 1.2830 & vs. Yen 116.62, XAU UP & gold DOWN @ 619.1, XOI -1% & crude DOWN -1.2% @ $69.71, CRB commodities index DOWN @ 327.73.
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 4.93%; 10 yr @ 4.78; 5 yr @ 4.76; 2yr @ 4.86; 6 mo @ 5.16.
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, broadbased bounce DJIA +68 on low volume with nice internals.
TUE, down & up, chop city DJIA +18 on low volume with OK internals. This week DJIA +86, since 09/19/05 DJIA +710.
Indexes UP: MID, RUT, SOXX DOWN: XOI, DJTA.
Sectors UP: Airlines, Networking, Telecom, Pharma, Tech, Healthcare DOWN: Banking, Brokers, Energy, Tranports.
Overseas: DAX DOWN, FTSE, CAC, Hang Seng & Nikkei UP.
Dollar DOWN vs. Euro 1.2830 & vs. Yen 116.62, XAU UP & gold DOWN @ 619.1, XOI -1% & crude DOWN -1.2% @ $69.71, CRB commodities index DOWN @ 327.73.
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