Market Soapbox Week Ending 04/20/07
MON, on shortcovering, DJIA +108 on below average volume with pretty internals. All UP weak XOI, SOXX. Bonds up, 10 yr yield -3 bps 4.73, $ down vs 1.3543E & up vs 119.725Y, WTI crude down $63.61, gold up $695.8
TUE, split tape, DJIA +52 on low volume with midlin internals. All UP cept NAZ, DJTA, XOI, XAU, RUT, MID, SOXX. Bonds up BIG 10 yr yield -5 bps 4.68, $ down vs 118.84Y & vs 1.3573E, WTI crude down $63.10, gold down $692.50.
WEN, split tape, DJIA +31 on average volume with midlin internals. All UP cept NDX, NAZ, MID, XAU, XOI, RUT. Bonds up 10yr yield -3 bps 4.65, $ down vs 118.66y & vs 1.3607E, WTI crude up $63.13, gold up $693.3
THU, down 100 then up, DJIA +5 on average volume with bad internals. All DOWN cept DJTA & SOX. Bonds down 10 yr yield +2 bps 4.67, $ down vs 118.46y & vs 1.3607E, gold down $688.3, WTI crude down 2% $61.83
FRI, DJIA +155 on average volume with pretty internals. All UP. Bonds flat 10 yr yield 0 bps 4.67, $ up vs 118.747y & vs 1.3603E, gold up 1% $695.8, WTI crude up 2.5% $63.38
This week, DJIA +351, since 09/19/05 DJIA +2327. CRB commodities down from 317.93 to 312.19.
XAU down 147.02 to 143.47 & gold up from $689.90 to 695.8. XOI up 1271.19 to 1271.99 & WTI crude down $63.63 to 63.38.
Volatility VIX up 12.20 to 12.40. Dollar index down 82.2 to 81.64. $ down vs Yen rising 119.25 to 118.747 & Euro rising 1.353 to 1.3603.
This week bonds up 30 year bond bouncing from 110.08 to 111.11, yield curve falling 10 yr -9 bps, 30 yr @ 4.85%; 10 yr @ 4.67; 5 yr @ 4.57; 2yr @ 4.65; 6 mo @ 5.04.
Recent Inversions: 2yr above 10 yr 12/27/05 - 3/29/06; 06/08/06 - 02/22/07; 2yr above 30 yr 02/09/06 - 3/29/06; 11/03/06- 03/01/07. 6mo above 10yr 06/02/06 -?; 6mo above 30yr 06/13/06 - ?
Resistance: DJIA 13000; SP500 1490; NAZ 2535; NDX 1860
Support: DJIA 12610; SP500 1450; NAZ 2480; NDX 1810
TUE, split tape, DJIA +52 on low volume with midlin internals. All UP cept NAZ, DJTA, XOI, XAU, RUT, MID, SOXX. Bonds up BIG 10 yr yield -5 bps 4.68, $ down vs 118.84Y & vs 1.3573E, WTI crude down $63.10, gold down $692.50.
WEN, split tape, DJIA +31 on average volume with midlin internals. All UP cept NDX, NAZ, MID, XAU, XOI, RUT. Bonds up 10yr yield -3 bps 4.65, $ down vs 118.66y & vs 1.3607E, WTI crude up $63.13, gold up $693.3
THU, down 100 then up, DJIA +5 on average volume with bad internals. All DOWN cept DJTA & SOX. Bonds down 10 yr yield +2 bps 4.67, $ down vs 118.46y & vs 1.3607E, gold down $688.3, WTI crude down 2% $61.83
FRI, DJIA +155 on average volume with pretty internals. All UP. Bonds flat 10 yr yield 0 bps 4.67, $ up vs 118.747y & vs 1.3603E, gold up 1% $695.8, WTI crude up 2.5% $63.38
This week, DJIA +351, since 09/19/05 DJIA +2327. CRB commodities down from 317.93 to 312.19.
XAU down 147.02 to 143.47 & gold up from $689.90 to 695.8. XOI up 1271.19 to 1271.99 & WTI crude down $63.63 to 63.38.
Volatility VIX up 12.20 to 12.40. Dollar index down 82.2 to 81.64. $ down vs Yen rising 119.25 to 118.747 & Euro rising 1.353 to 1.3603.
This week bonds up 30 year bond bouncing from 110.08 to 111.11, yield curve falling 10 yr -9 bps, 30 yr @ 4.85%; 10 yr @ 4.67; 5 yr @ 4.57; 2yr @ 4.65; 6 mo @ 5.04.
Recent Inversions: 2yr above 10 yr 12/27/05 - 3/29/06; 06/08/06 - 02/22/07; 2yr above 30 yr 02/09/06 - 3/29/06; 11/03/06- 03/01/07. 6mo above 10yr 06/02/06 -?; 6mo above 30yr 06/13/06 - ?
Resistance: DJIA 13000; SP500 1490; NAZ 2535; NDX 1860
Support: DJIA 12610; SP500 1450; NAZ 2480; NDX 1810
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