Market Soapbox Week Ending 09/08/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 4.92%; 10 yr @ 4.77; 5 yr @ 4.71; 2yr @ 4.81; 6 mo @ 5.10.
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 - ?
TUE, DJIA +5 on low volume with midlin internals.
WEN, DJIA -63 on higher volume with ugly internals.
THU, more downside with options unwind, DJIA -75 on higher volume with butt ugly internals.
FRI, a bounce DJIA +60 on low volume with decent internals. This week DJIA -73, since 09/19/05 DJIA +731.
Dollar UP vs. Euro 1.2679 & UP vs. Yen 116.73, XAU & gold DOWN @ 604.2, XOI & crude DOWN @ $65.81, CRB commodities index DOWN @ 320.39
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 4.92%; 10 yr @ 4.77; 5 yr @ 4.71; 2yr @ 4.81; 6 mo @ 5.10.
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 - ?
TUE, DJIA +5 on low volume with midlin internals.
WEN, DJIA -63 on higher volume with ugly internals.
THU, more downside with options unwind, DJIA -75 on higher volume with butt ugly internals.
FRI, a bounce DJIA +60 on low volume with decent internals. This week DJIA -73, since 09/19/05 DJIA +731.
Dollar UP vs. Euro 1.2679 & UP vs. Yen 116.73, XAU & gold DOWN @ 604.2, XOI & crude DOWN @ $65.81, CRB commodities index DOWN @ 320.39
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