Market Observations 09/15/06
Oil pulling back 9 days out of 10 from $79 to under $64, over the same period: gold tumbling to $583 and the commodities market awash in blood.
Yet the dollar treaded water as bonds again took a small breather with increasing yields. The RUT keeps head banging 730, and the NDX 1635.
With the DJIA closing in on a 6 year high, only 140 points off the all time high, 09/11 was not much of an inflection point.
We sense that Tech will break its water again, due to building inventories and slumping sales.
Perhaps the sideways chop persists until around the next potential inflection point on 10/11 with Tech signaling a broader break to the downside which could be significant.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
Yet the dollar treaded water as bonds again took a small breather with increasing yields. The RUT keeps head banging 730, and the NDX 1635.
With the DJIA closing in on a 6 year high, only 140 points off the all time high, 09/11 was not much of an inflection point.
We sense that Tech will break its water again, due to building inventories and slumping sales.
Perhaps the sideways chop persists until around the next potential inflection point on 10/11 with Tech signaling a broader break to the downside which could be significant.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
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