Market Soapbox Week Ending 09/15/06
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 @ 4.91%; 10 yr @ 4.79; 5 yr @ 4.75; 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, a lackluster day, DJIA +4 on average volume with midlin internals
TUE, triple digit surge, DJIA +101 on higher volume with pretty internals. XAU & XOI continue plunge.
WEN, some followthrough, DJIA +45 on average volume with nice internals. SOXX down, oil under $65.
THU, DJIA -16 on average volume with ugly internals. XAU & XOI resume plunge, RUT, MID, DJTA & DJUA DOWN, oil under $64, gold under $590.
FRI, a bounce DJIA +33 on higher volume (quadruple witching) with OK internals. DJTA, DJUA, MID, SOXX, XOI DOWN. This week DJIA +167, since 09/19/05 DJIA +898, thats almost a year.
Dollar DOWN vs. Euro 1.2726 & UP vs. Yen 116.20, XAU 125.54 & gold DOWN @ 583, XOI 1048.16 & crude DOWN @ $63.33, CRB commodities index DOWN @ 306.32
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 4.91%; 10 yr @ 4.79; 5 yr @ 4.75; 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, a lackluster day, DJIA +4 on average volume with midlin internals
TUE, triple digit surge, DJIA +101 on higher volume with pretty internals. XAU & XOI continue plunge.
WEN, some followthrough, DJIA +45 on average volume with nice internals. SOXX down, oil under $65.
THU, DJIA -16 on average volume with ugly internals. XAU & XOI resume plunge, RUT, MID, DJTA & DJUA DOWN, oil under $64, gold under $590.
FRI, a bounce DJIA +33 on higher volume (quadruple witching) with OK internals. DJTA, DJUA, MID, SOXX, XOI DOWN. This week DJIA +167, since 09/19/05 DJIA +898, thats almost a year.
Dollar DOWN vs. Euro 1.2726 & UP vs. Yen 116.20, XAU 125.54 & gold DOWN @ 583, XOI 1048.16 & crude DOWN @ $63.33, CRB commodities index DOWN @ 306.32
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