Market Soapbox 07/23/07
MON, rebound, DJIA +92 on lower volume with midlin internals. All UP cept MID, SOXX, XAU, RUT.
Bonds down, 10 yr yield +1 bps 4.96, $ up vs 1.3801E & down vs 121.195Y, WTI crude down 1% $74.89, gold down $681.5
The US dollar index has lost 13.2% since January 2001, when George W. Bush took office, the most under any president since Gerald Ford.
Even worse, since late 1999 the dollar has gone from 1.15 E to 0.72 E; losing 37% of its value.
The dollar set a new low of $1.3845 per euro today, and is the weakest in 26 years versus the British pound.
Today, $8.25B in Fed reanimation. NDX ran into 2045 barrier again, our predicted SP500 retest of 1530-35 is done.
Needs to close above 1550 2 days straight to signal an overall change in market direction and 1575 resistance awaits.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Bonds down, 10 yr yield +1 bps 4.96, $ up vs 1.3801E & down vs 121.195Y, WTI crude down 1% $74.89, gold down $681.5
The US dollar index has lost 13.2% since January 2001, when George W. Bush took office, the most under any president since Gerald Ford.
Even worse, since late 1999 the dollar has gone from 1.15 E to 0.72 E; losing 37% of its value.
The dollar set a new low of $1.3845 per euro today, and is the weakest in 26 years versus the British pound.
Today, $8.25B in Fed reanimation. NDX ran into 2045 barrier again, our predicted SP500 retest of 1530-35 is done.
Needs to close above 1550 2 days straight to signal an overall change in market direction and 1575 resistance awaits.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
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