Market Soapbox Week Ending 07/27/07
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
TUE, triple digit slapdown, DJIA -224 on high volume with fugly internals. All DOWN BIG. Bonds up 10 yr yield -4bps 4.92, $ CLUBBED vs 1.382E & vs 120.225Y, WTI crude down 2% $73.56, gold up $684.8
WEN, wavy gravy, DJIA +52 on average volume with ugly internals. All UP cept DJTA, DJUA, NYSE, MID, XAU, RUT. Bonds up10 yr yield -2bps 4.90, $ up vs 1.3716E & vs 120.49Y, WTI crude up BIG +3.5% $76.13, gold down 1.6% $673.8.
THU, an asswhuppin, DJIA -306 on high volume with horrific internals. All DOWN BIG. Bonds up BIG 10 yr yield -12bps 4.78, $ down vs 118.76y & vs 1.3747E, gold up $675.1, WTI crude down 1.5% $74.75
FRI, caved in, DJIA -208 on high volume with ugly internals. All DOWN. Bonds flat 10 yr yield -0bps 4.78, $ up vs 118.855y & vs 1.3646E, gold down $672.3, WTI crude up 2.8% $77.02
This week, DJIA -594, since 09/19/05 DJIA +2653. CRB commodities down 324.44 to 319.45
XAU down from 158.39 to 145.65 & gold down from $684.7 to $672.3. XOI down 1470.07 to 1354.35 & WTI crude up from $75.79 to $77.02 an 11 month high.
Volatility VIX up to 11 months high 16.95 to 21.61. Dollar index up from 80.26 to 80.81. $ down vs Yen 121.27 to 118.855 & up vs Euro 1.3827 to 1.3646.
This week bonds up BIG to 7 week high 30yr -12bps; 10yr -17bps, 5yr -24bps, 2yr -21bps, 6mo -12bps. 30 yr @ 4.94%; 10 yr @ 4.78; 5 yr @ 4.60; 2yr @ 4.55; 6 mo @ 4.92.
Recent Inversions: 2yr above 10 yr 12/27/05 - 3/29/06; 06/08/06 - 02/22/07; 05/02/07 - 06/07/07; 2yr above 30 yr 02/09/06 - 3/29/06; 11/03/06- 03/01/07. 6mo above 10yr 06/02/06 -06/07/07; 6mo above 30yr 06/13/06 - 05/25/07.
6mo above 2 yr 06/25/07 - ??? above 5 yr 07/11/07 - ????
Resistance: DJIA 13420; SP500 1485; NAZ 2590; NDX 1985
Support: DJIA 13150; SP500 1465; NAZ 2550; NDX 1950
TUE, triple digit slapdown, DJIA -224 on high volume with fugly internals. All DOWN BIG. Bonds up 10 yr yield -4bps 4.92, $ CLUBBED vs 1.382E & vs 120.225Y, WTI crude down 2% $73.56, gold up $684.8
WEN, wavy gravy, DJIA +52 on average volume with ugly internals. All UP cept DJTA, DJUA, NYSE, MID, XAU, RUT. Bonds up10 yr yield -2bps 4.90, $ up vs 1.3716E & vs 120.49Y, WTI crude up BIG +3.5% $76.13, gold down 1.6% $673.8.
THU, an asswhuppin, DJIA -306 on high volume with horrific internals. All DOWN BIG. Bonds up BIG 10 yr yield -12bps 4.78, $ down vs 118.76y & vs 1.3747E, gold up $675.1, WTI crude down 1.5% $74.75
FRI, caved in, DJIA -208 on high volume with ugly internals. All DOWN. Bonds flat 10 yr yield -0bps 4.78, $ up vs 118.855y & vs 1.3646E, gold down $672.3, WTI crude up 2.8% $77.02
This week, DJIA -594, since 09/19/05 DJIA +2653. CRB commodities down 324.44 to 319.45
XAU down from 158.39 to 145.65 & gold down from $684.7 to $672.3. XOI down 1470.07 to 1354.35 & WTI crude up from $75.79 to $77.02 an 11 month high.
Volatility VIX up to 11 months high 16.95 to 21.61. Dollar index up from 80.26 to 80.81. $ down vs Yen 121.27 to 118.855 & up vs Euro 1.3827 to 1.3646.
This week bonds up BIG to 7 week high 30yr -12bps; 10yr -17bps, 5yr -24bps, 2yr -21bps, 6mo -12bps. 30 yr @ 4.94%; 10 yr @ 4.78; 5 yr @ 4.60; 2yr @ 4.55; 6 mo @ 4.92.
Recent Inversions: 2yr above 10 yr 12/27/05 - 3/29/06; 06/08/06 - 02/22/07; 05/02/07 - 06/07/07; 2yr above 30 yr 02/09/06 - 3/29/06; 11/03/06- 03/01/07. 6mo above 10yr 06/02/06 -06/07/07; 6mo above 30yr 06/13/06 - 05/25/07.
6mo above 2 yr 06/25/07 - ??? above 5 yr 07/11/07 - ????
Resistance: DJIA 13420; SP500 1485; NAZ 2590; NDX 1985
Support: DJIA 13150; SP500 1465; NAZ 2550; NDX 1950
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