Market Soapbox Week Ending 01/12/06
Resistance: DJIA 12600; SP500 1430; Nasdaq 2500; NDX 1860
Support: DJIA 12400, SP500 1405, Nasdaq 2400; NDX 1730
MAJOR YIELD CURVE INVERSION: Bonds down BIG with the 30yr yield rising @ 4.86%; 10yr @ 4.77; 5yr @ 4.76; 2yr @ 4.88; 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 - ? 2yr above 30yr 11/03 - ?
MON, a dip SP500 1404 then bounce on program trading to 1413. DJIA +26 on lower volume with decent internals. All UP cept XAU, DJUA. Bonds down 10yr 4.66, $ up vs 118.71y & down vs 1.3022E, crude down $56.09, gold up $611.40
TUE, another dip 1405 then bounce to 1414. DJIA -7 on average volume with midlin internals. All UP cept NYA, XMI, XAU, XOI. Bonds flat 10yr 4.65, $ up vs 119.41y & vs 1.30E, crude down $55.77, gold up $614.60
WEN, up & down, closing DJIA +26 on average volume and midlin internals. All UP cept XAU, XOI, RUT, SOXX, XMI, NYA, SP500. Bonds down 10 yr 4.69, $ up vs 119.64y & vs 1.2938E, gold down $613.40, crude punked 2.9% $54.02.
THU, broadbased surge, DJIA +73 on average volume with nice internals. All UP cept XOI, DJUA, SOXX. Bonds down 10 yr 4.74, $ up 120.495y & 1.2894E, gold down $612.20, crude plunging 3.75% and hitting our target $52.
FRI, broadbased followthrough, DJIA +41 on average volume with sterling internals. All UP cept DJUA. Bonds down 10yr 4.77, $ down vs 120.345y & vs 1.2918E, crude up $52.89, gold up 2% $626.30.
This week, DJIA +159, since 09/19/05 DJIA +1923. Dollar up vs. Euro 1.2918 & up vs. Yen 120.345, XAU up 134.78 & gold up 626.30, XOI 1126.96 down & crude down BIG $52.89, CRB commodities index down 290.62
Support: DJIA 12400, SP500 1405, Nasdaq 2400; NDX 1730
MAJOR YIELD CURVE INVERSION: Bonds down BIG with the 30yr yield rising @ 4.86%; 10yr @ 4.77; 5yr @ 4.76; 2yr @ 4.88; 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 - ? 2yr above 30yr 11/03 - ?
MON, a dip SP500 1404 then bounce on program trading to 1413. DJIA +26 on lower volume with decent internals. All UP cept XAU, DJUA. Bonds down 10yr 4.66, $ up vs 118.71y & down vs 1.3022E, crude down $56.09, gold up $611.40
TUE, another dip 1405 then bounce to 1414. DJIA -7 on average volume with midlin internals. All UP cept NYA, XMI, XAU, XOI. Bonds flat 10yr 4.65, $ up vs 119.41y & vs 1.30E, crude down $55.77, gold up $614.60
WEN, up & down, closing DJIA +26 on average volume and midlin internals. All UP cept XAU, XOI, RUT, SOXX, XMI, NYA, SP500. Bonds down 10 yr 4.69, $ up vs 119.64y & vs 1.2938E, gold down $613.40, crude punked 2.9% $54.02.
THU, broadbased surge, DJIA +73 on average volume with nice internals. All UP cept XOI, DJUA, SOXX. Bonds down 10 yr 4.74, $ up 120.495y & 1.2894E, gold down $612.20, crude plunging 3.75% and hitting our target $52.
FRI, broadbased followthrough, DJIA +41 on average volume with sterling internals. All UP cept DJUA. Bonds down 10yr 4.77, $ down vs 120.345y & vs 1.2918E, crude up $52.89, gold up 2% $626.30.
This week, DJIA +159, since 09/19/05 DJIA +1923. Dollar up vs. Euro 1.2918 & up vs. Yen 120.345, XAU up 134.78 & gold up 626.30, XOI 1126.96 down & crude down BIG $52.89, CRB commodities index down 290.62
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