Market Soapbox Week Ending 06/01/07
MON, Memorial Day Markets Closed
TUE, DJIA +14 on tepid volume with nice internals. All UP cept XMI, XOI, XAU. Bonds down, 10 yr yield +3 bps 4.89, $ down vs 1.3452E & up vs 121.635Y, WTI crude down 3% $63.15, gold up $663.4
WEN, broadbased triple digit jump, DJIA +112 on average volume with sterling internals. All UP cept SOXX. Bonds up 10yr yield -2bps 4.87, $ down vs 121.555y & up vs 1.3428E, WTI crude up $63.35, gold down $660.30
THU, split tape flats, DJIA -5 on higher volume with midlin internals. All UP cept XOI, XMI, OEX. Bonds down 10 yr yield +3bps 4.90, $ up vs 121.766y & down vs 1.3457E, gold up $667.9, WTI crude up $64.17
FRI, DJIA +40 on lower volume with nice internals. All UP cept DJUA. Bonds down 10 yr yield +6bps 4.96, $ up vs 122.035y & vs 1.3446E, gold up 1.5% $676.9, WTI crude up 1.6% $65.08
This week, DJIA +161, since 09/19/05 DJIA +3043. CRB commodities up from 313.10 to 314.12
XAU up 135.80 to 142.29 & gold up from $661.4 to $676.9. XOI up 1359.86 to 1388.08 & WTI crude down to $65.08 from $65.20.
Volatility VIX down 13.34 to 12.85. Dollar index down 82.37 to 82.25. $ up vs falling Yen 121.795 to 122.035 & down vs Euro 1.3442 to 1.3446.
This week bonds down BIG 30 year bond falling from 109.08 to 109.04. 30 yr +6bps; 10 yr +10bps, 2 yr +11bps. 30 yr @ 5.06%; 10 yr @ 4.96; 5 yr @ 4.92; 2yr @ 4.97; 6 mo @ 4.97.
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 - 05/25/07
Resistance: DJIA 13700; SP500 1550; NAZ 2625; NDX 1950
Support: DJIA 13500; SP500 1520; NAZ 2565; NDX 1900
TUE, DJIA +14 on tepid volume with nice internals. All UP cept XMI, XOI, XAU. Bonds down, 10 yr yield +3 bps 4.89, $ down vs 1.3452E & up vs 121.635Y, WTI crude down 3% $63.15, gold up $663.4
WEN, broadbased triple digit jump, DJIA +112 on average volume with sterling internals. All UP cept SOXX. Bonds up 10yr yield -2bps 4.87, $ down vs 121.555y & up vs 1.3428E, WTI crude up $63.35, gold down $660.30
THU, split tape flats, DJIA -5 on higher volume with midlin internals. All UP cept XOI, XMI, OEX. Bonds down 10 yr yield +3bps 4.90, $ up vs 121.766y & down vs 1.3457E, gold up $667.9, WTI crude up $64.17
FRI, DJIA +40 on lower volume with nice internals. All UP cept DJUA. Bonds down 10 yr yield +6bps 4.96, $ up vs 122.035y & vs 1.3446E, gold up 1.5% $676.9, WTI crude up 1.6% $65.08
This week, DJIA +161, since 09/19/05 DJIA +3043. CRB commodities up from 313.10 to 314.12
XAU up 135.80 to 142.29 & gold up from $661.4 to $676.9. XOI up 1359.86 to 1388.08 & WTI crude down to $65.08 from $65.20.
Volatility VIX down 13.34 to 12.85. Dollar index down 82.37 to 82.25. $ up vs falling Yen 121.795 to 122.035 & down vs Euro 1.3442 to 1.3446.
This week bonds down BIG 30 year bond falling from 109.08 to 109.04. 30 yr +6bps; 10 yr +10bps, 2 yr +11bps. 30 yr @ 5.06%; 10 yr @ 4.96; 5 yr @ 4.92; 2yr @ 4.97; 6 mo @ 4.97.
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 - 05/25/07
Resistance: DJIA 13700; SP500 1550; NAZ 2625; NDX 1950
Support: DJIA 13500; SP500 1520; NAZ 2565; NDX 1900
Comments