Market Soapbox 06/26/07
TUE, more wavy gravy, DJIA -14 on lower volume with poor internals. All DOWN.
Bonds down 10 yr yield +2 bps 5.10, $ down vs 1.3468E & vs 123.262Y, WTI crude down 2% $67.77, gold down 1.5% $645.3
DJIA up 42 for 63; 48 record closes since Oct.; 26 YTD; and on a parallel with 1989 Nikkei 225: the DJIA is now 49 for 74.
Today $10.5B in Fed reanimation; Yesterday: DJIA up +128, then fizzle... Today, DJIA up +100, then shizzle into close...
SP500 bouncing from 1497 to 1506, fall to 1490, closing at 1493. DJUA hangin at 489.
Yesterday: "bonds to continue rallying with the carry trade Yen reload... more housing bad news should push SP500 toward 1480 75 DMA."
Today, commodities fell, bonds treading water & equities going nowhere fast. Market is revolving around SP500 1505; MID 900; RUT 830; NDX 1905
Downtrending & range bound, one way or the other, somethings gotta give soon. Need a shove? Call the FED, whats is your FOMC statement? Arrgh Matey!
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Bonds down 10 yr yield +2 bps 5.10, $ down vs 1.3468E & vs 123.262Y, WTI crude down 2% $67.77, gold down 1.5% $645.3
DJIA up 42 for 63; 48 record closes since Oct.; 26 YTD; and on a parallel with 1989 Nikkei 225: the DJIA is now 49 for 74.
Today $10.5B in Fed reanimation; Yesterday: DJIA up +128, then fizzle... Today, DJIA up +100, then shizzle into close...
SP500 bouncing from 1497 to 1506, fall to 1490, closing at 1493. DJUA hangin at 489.
Yesterday: "bonds to continue rallying with the carry trade Yen reload... more housing bad news should push SP500 toward 1480 75 DMA."
Today, commodities fell, bonds treading water & equities going nowhere fast. Market is revolving around SP500 1505; MID 900; RUT 830; NDX 1905
Downtrending & range bound, one way or the other, somethings gotta give soon. Need a shove? Call the FED, whats is your FOMC statement? Arrgh Matey!
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
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