Market Soapbox Week Ending 09/22/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10250, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds UP BIG with the 30 yr yield falling @ 4.74%; 10 yr @ 4.59; 5 yr @ 4.54; 2yr @ 4.67; 6 mo @ 5.01. The 10 yr hit a 6 month low.
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 sideways day, DJIA -6 on lower volume with midlin internals. DJTA, SOXX, XOI & XAU UP nice. RUT hit 733.
TUE, down then up, DJIA -12 on lower volume with ugly internals. DJTA, NDX, SOXX, XAU & XOI DOWN. RUT hit 715.
WEN, FOMC on pause, DJIA +72 on average volume with nice internals. XOI, XAU, DJUA DOWN. Crude under $61. RUT hit 737
THU, a on "hard crash" fears, DJIA -80 on higher volume with ugly internals. All indices down cept XOI & XAU, RUT banged off 738 then down.
FRI, broadbased recession fear as foreign markets tumble +1%. DJIA -25 on lower volume with ugly internals. All indices down cept XAU. RUT fell to 714. This week DJIA -51, since 09/19/05 DJIA +847.
Dollar DOWN vs. Euro 1.2847 & vs. Yen 115.09, XAU DOWN 125.24 & gold UP @ 595.4, XOI 1039.23 & crude DOWN @ $60.46, CRB commodities index DOWN @ 300.86
Support: DJIA 10250, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds UP BIG with the 30 yr yield falling @ 4.74%; 10 yr @ 4.59; 5 yr @ 4.54; 2yr @ 4.67; 6 mo @ 5.01. The 10 yr hit a 6 month low.
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 sideways day, DJIA -6 on lower volume with midlin internals. DJTA, SOXX, XOI & XAU UP nice. RUT hit 733.
TUE, down then up, DJIA -12 on lower volume with ugly internals. DJTA, NDX, SOXX, XAU & XOI DOWN. RUT hit 715.
WEN, FOMC on pause, DJIA +72 on average volume with nice internals. XOI, XAU, DJUA DOWN. Crude under $61. RUT hit 737
THU, a on "hard crash" fears, DJIA -80 on higher volume with ugly internals. All indices down cept XOI & XAU, RUT banged off 738 then down.
FRI, broadbased recession fear as foreign markets tumble +1%. DJIA -25 on lower volume with ugly internals. All indices down cept XAU. RUT fell to 714. This week DJIA -51, since 09/19/05 DJIA +847.
Dollar DOWN vs. Euro 1.2847 & vs. Yen 115.09, XAU DOWN 125.24 & gold UP @ 595.4, XOI 1039.23 & crude DOWN @ $60.46, CRB commodities index DOWN @ 300.86
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