Market Soapbox Week Ending 11/17/0
Resistance: DJIA 12500; SP500 1415; Nasdaq 2480; NDX 1860
Support: DJIA 12250, SP500 1390, Nasdaq 2380; NDX 1760
MAJOR YIELD CURVE INVERSION: Bonds UP BIG with the 30 yr yield falling @ 4.69%; 10 yr @ 4.60; 5 yr @ 4.60; 2yr @ 4.76; 6 mo @ 5.13.
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 - ? 2 yr above 30yr 11/03 - ?
MON, DJIA +23 on lower volume with fair internals. All UP cept DJUA, NYSE, AMEX, XAU & XOI. Bonds down 10 yr 4.6, crude futures -1.7% under $59. Gold steady $626, NDX closed at new 5.5 year high 1768.
TUE, late day followthrough DJIA +86 on average volume with brillant internals. All UP cept DJTA & XAU. SP500 pierced 1389 to close at 1393. 10 yr @ 7 month low 4.57, crude & gold steady. Large afterhours volume spikes on AMEX & NDX.
WEN, more broadbased followthrough, DJIA +34 on above avg volume with sterling internals. All UP cept DJUA. Gold $623.5, crude under $59, Bonds DOWN, TLT at 8.5 month high, VIX at YTD low. SP500 hit 1401.
THU, up, up, up, DJIA +54 on below avg volume with nice internals. All UP cept XAU, XOI, NYA, RUT. Gold steady, crude -4.7%, under $57, largest single day decline since Aug 05.
FRI, a gap down on big volume, then a split tape day rising into the close, DJIA +37 on avg volume with midlin internals. DOWN NDX, DJTA, MID, RUT, SOXX. This week DJIA +234, since 09/19/05 DJIA +1683.
Dollar FLAT vs. Euro 1.28353 & vs. Yen 117.66, XAU 133.19 & gold DOWN @ 622.8, XOI 1158.33 & crude DOWN @ $55.75, CRB commodities index DOWN @ 305.79.
Support: DJIA 12250, SP500 1390, Nasdaq 2380; NDX 1760
MAJOR YIELD CURVE INVERSION: Bonds UP BIG with the 30 yr yield falling @ 4.69%; 10 yr @ 4.60; 5 yr @ 4.60; 2yr @ 4.76; 6 mo @ 5.13.
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 - ? 2 yr above 30yr 11/03 - ?
MON, DJIA +23 on lower volume with fair internals. All UP cept DJUA, NYSE, AMEX, XAU & XOI. Bonds down 10 yr 4.6, crude futures -1.7% under $59. Gold steady $626, NDX closed at new 5.5 year high 1768.
TUE, late day followthrough DJIA +86 on average volume with brillant internals. All UP cept DJTA & XAU. SP500 pierced 1389 to close at 1393. 10 yr @ 7 month low 4.57, crude & gold steady. Large afterhours volume spikes on AMEX & NDX.
WEN, more broadbased followthrough, DJIA +34 on above avg volume with sterling internals. All UP cept DJUA. Gold $623.5, crude under $59, Bonds DOWN, TLT at 8.5 month high, VIX at YTD low. SP500 hit 1401.
THU, up, up, up, DJIA +54 on below avg volume with nice internals. All UP cept XAU, XOI, NYA, RUT. Gold steady, crude -4.7%, under $57, largest single day decline since Aug 05.
FRI, a gap down on big volume, then a split tape day rising into the close, DJIA +37 on avg volume with midlin internals. DOWN NDX, DJTA, MID, RUT, SOXX. This week DJIA +234, since 09/19/05 DJIA +1683.
Dollar FLAT vs. Euro 1.28353 & vs. Yen 117.66, XAU 133.19 & gold DOWN @ 622.8, XOI 1158.33 & crude DOWN @ $55.75, CRB commodities index DOWN @ 305.79.
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