Market Soapbox Week Ending 05/11/07
MON, split tape, DJIA +48 on lower volume with OK internals. All UP cept DJTA, NAZ, SOXX, XOI, RUT. Bonds up, 10 yr yield -1 bps 4.63, $ down vs 1.3603E & vs 120.08Y, WTI crude down $61.47, gold up $690.4
TUE, split tape, DJIA -4 on below average volume with midlin internals. All DOWN cept XOI, MID, NAZ, NDX, DJTA. Bonds flat 10 yr yield +0 bps 4.63, $ down vs 119.955Y & up vs 1.3544E, WTI crude up 1.3% $62.26, gold down $687.4.
WEN, broadbased followthrough, DJIA +54 on average volume with pretty internals. All UP cept DJTA. Bonds down 10yr yield +3bps 4.66, $ up vs 120.079y & vs 1.3526E, WTI crude down 1% $61.55, gold down $682.5
THU, triple digit consolidation, DJIA -148 on average volume with butt fugly internals. All DOWN BIG, Bonds up 10 yr yield -2 bps 4.64, $ down vs 119.878y & up vs 1.3484E, gold down 2.2% $667, WTI crude up $61.81
FRI, triple digit reflex bounce DJIA +111 on lower volume with sterling internals. All UP. Bonds down 10 yr yield +3 bps 4.67, $ up vs 120.185y & down vs 1.3524E, gold up $672.30, WTI crude up 1% $62.51
This week, DJIA +61, since 09/19/05 DJIA +2691. CRB commodities down from 311.24 to 311.13.
XAU down 141.85 to 139.76 & gold down from $689.70 to $672.3. XOI down 1298.19 to 1296.86 & WTI crude up $62.51 from $61.93.
Volatility VIX up 12.91 to 12.95. Dollar index up 81.72 to 82.11. $ up vs falling Yen 120.149 to 120.185 & up vs Euro 1.3596 to 1.3524.
This week bonds DOWN 30 year bond falling from 111.14 to 111.10, yield curve rising, flattening and inverting 2 over 10; 30 yr +4bps; 10 yr +3bps, 6 mo -11bps. 30 yr @ 4.85%; 10 yr @ 4.67; 5 yr @ 4.58; 2yr @ 4.71; 6 mo @ 4.90.
Recent Inversions: 2yr above 10 yr 12/27/05 - 3/29/06; 06/08/06 - 02/22/07; 05/02/07 - ?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 13370; SP500 1515; NAZ 2580; NDX 1905
Support: DJIA 13210; SP500 1490; NAZ 2530; NDX 1875
TUE, split tape, DJIA -4 on below average volume with midlin internals. All DOWN cept XOI, MID, NAZ, NDX, DJTA. Bonds flat 10 yr yield +0 bps 4.63, $ down vs 119.955Y & up vs 1.3544E, WTI crude up 1.3% $62.26, gold down $687.4.
WEN, broadbased followthrough, DJIA +54 on average volume with pretty internals. All UP cept DJTA. Bonds down 10yr yield +3bps 4.66, $ up vs 120.079y & vs 1.3526E, WTI crude down 1% $61.55, gold down $682.5
THU, triple digit consolidation, DJIA -148 on average volume with butt fugly internals. All DOWN BIG, Bonds up 10 yr yield -2 bps 4.64, $ down vs 119.878y & up vs 1.3484E, gold down 2.2% $667, WTI crude up $61.81
FRI, triple digit reflex bounce DJIA +111 on lower volume with sterling internals. All UP. Bonds down 10 yr yield +3 bps 4.67, $ up vs 120.185y & down vs 1.3524E, gold up $672.30, WTI crude up 1% $62.51
This week, DJIA +61, since 09/19/05 DJIA +2691. CRB commodities down from 311.24 to 311.13.
XAU down 141.85 to 139.76 & gold down from $689.70 to $672.3. XOI down 1298.19 to 1296.86 & WTI crude up $62.51 from $61.93.
Volatility VIX up 12.91 to 12.95. Dollar index up 81.72 to 82.11. $ up vs falling Yen 120.149 to 120.185 & up vs Euro 1.3596 to 1.3524.
This week bonds DOWN 30 year bond falling from 111.14 to 111.10, yield curve rising, flattening and inverting 2 over 10; 30 yr +4bps; 10 yr +3bps, 6 mo -11bps. 30 yr @ 4.85%; 10 yr @ 4.67; 5 yr @ 4.58; 2yr @ 4.71; 6 mo @ 4.90.
Recent Inversions: 2yr above 10 yr 12/27/05 - 3/29/06; 06/08/06 - 02/22/07; 05/02/07 - ?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 13370; SP500 1515; NAZ 2580; NDX 1905
Support: DJIA 13210; SP500 1490; NAZ 2530; NDX 1875
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