Market Soapbox Week Ending 10/27/06
Resistance: DJIA 12250; SP500 1390; Nasdaq 2400; NDX 1745
Support: DJIA 11675, SP500 1325, Nasdaq 2250; NDX 1645
YIELD CURVE INVERSION: Bonds UP BIG with the 30 yr yield falling @ 4.79%; 10 yr @ 4.67; 5 yr @ 4.63; 2yr @ 4.75; 6 mo @ 5.14.
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 triple digit upsurge DJIA +115 on low volume with nice internals. Weak RUT, All UP cept XOI & DJTA.
TUE, a split tape day, DJIA +11 on average volume with midlin internals. NAZ, NDX, SOXX, DJUA, OEX, RUT all DOWN.
WEN, All UP nicely, cept DJIA +7 on lower volume with decent internals. DJUA sets new all time high.
THU, a new all time closing high 12163.66, DJIA +29 on higher volume with pretty internals. All UP cept XAU, XOI & DJUA.
FRI, a tech led selloff with broadbased profit taking, still closing over 12K, DJIA -73 on slightly higher volume (NAZ) with ugly internals. All DOWN nicely. This week DJIA +89, since 09/19/05 DJIA +1431.
Dollar DOWN vs. Euro 1.27454 & vs. Yen 117.51, XAU UP 133.02 & gold UP @ 601, XOI UP 1140.81 & crude UP @ $60.75, CRB commodities index UP @ 312.37.
Support: DJIA 11675, SP500 1325, Nasdaq 2250; NDX 1645
YIELD CURVE INVERSION: Bonds UP BIG with the 30 yr yield falling @ 4.79%; 10 yr @ 4.67; 5 yr @ 4.63; 2yr @ 4.75; 6 mo @ 5.14.
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 triple digit upsurge DJIA +115 on low volume with nice internals. Weak RUT, All UP cept XOI & DJTA.
TUE, a split tape day, DJIA +11 on average volume with midlin internals. NAZ, NDX, SOXX, DJUA, OEX, RUT all DOWN.
WEN, All UP nicely, cept DJIA +7 on lower volume with decent internals. DJUA sets new all time high.
THU, a new all time closing high 12163.66, DJIA +29 on higher volume with pretty internals. All UP cept XAU, XOI & DJUA.
FRI, a tech led selloff with broadbased profit taking, still closing over 12K, DJIA -73 on slightly higher volume (NAZ) with ugly internals. All DOWN nicely. This week DJIA +89, since 09/19/05 DJIA +1431.
Dollar DOWN vs. Euro 1.27454 & vs. Yen 117.51, XAU UP 133.02 & gold UP @ 601, XOI UP 1140.81 & crude UP @ $60.75, CRB commodities index UP @ 312.37.
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