Market Soapbox Week Ending 04/27/07

MON, DJIA -43 on below average volume with midlin internals. All DOWN cept DJUA, NDX, MID, XOI. Bonds up, 10 yr yield -2 bps 4.65, $ up vs 1.3575E & down vs 118.64Y, WTI crude up 2.8% $65.89, gold down $694.2

TUE, DJIA +35 on average volume with midlin internals. All UP cept DJTA, XOI, XAU, RUT, MID, SP500, NYSE, OEX. Bonds up 10 yr yield -3 bps 4.62, $ down vs 118.58Y & vs 1.3636E, WTI crude down 2% $64.58, gold down 1% $687.7.

WEN, triple digit jump, DJIA +136 on average volume with sparkling internals. All UP. Bonds down 10yr yield +3 bps 4.65, $ up vs 118.727y & down vs 1.3637E, WTI crude up 2% $65.84, gold down $687.4

THU, strange daze indeed, DJIA +16 on average volume with midlin internals. All UP cept DJTA, DJUA, NYSE, SP500, OEX, TMWX, XAU, XOI. Bonds down 10 yr yield +4 bps 4.69, $ up vs 119.615y & vs 1.3603E, gold down 1.4% $678, WTI crude down 1% $65.06

FRI, DJIA +15 on average volume with ugly internals. All DOWN cept XAU, XMI, OEX, NAZ, NDX. Bonds flat 10 yr yield 0 bps 4.69, $ down vs 119.605y & vs 1.3652E, gold up $681.80, WTI crude up $66.46

This week, DJIA +159, since 09/19/05 DJIA +2486. CRB commodities up from 312.19 to 314.20.

XAU down 143.47 to 139.71 & gold down from $695.8 to 681.80. XOI up 1271.99 to 1284.45 & WTI crude up $63.38 to 66.46.

Volatility VIX up 12.40 to 12.45. Dollar index down 81.64 to 81.47. $ up vs falling Yen 118.747 to 119.605 & down vs rising Euro 1.3603 to 1.3652.

This week bonds down 30 year bond falling from 111.11 to 110.29, yield curve rising 10 yr +2 bps, 30 yr @ 4.88%; 10 yr @ 4.69; 5 yr @ 4.58; 2yr @ 4.65; 6 mo @ 5.02.

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 13150; SP500 1500; NAZ 2565; NDX 1895
Support: DJIA 12800; SP500 1470; NAZ 2510; NDX 1840

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