Market Soapbox Week Ending 08/17/07
MON, split tape, DJIA -3 on low volume with poor internals. All DOWN cept MID, DJTA, DJUA, NDX. Bonds up, 10 yr yield -2 bps 4.78, $ up vs 1.3614E & down vs 118.335Y, WTI crude up $71.62, gold down $680.9
TUE, triple digit slap down, DJIA -207 on average volume with horrible internals. All DOWN BIG. Bonds up 10 yr yield -5 bps 4.73, $ up vs 1.3537E & down vs 117.78Y, WTI crude up 1% $72.38, gold down $679.7
WEN, Mr. Toads Wild Ride continues, DJIA -167 on higher volume with fugly internals. All DOWN BIG. Bonds up 10 yr yield -2bps 4.71, $ up vs 1.3450E & creamed vs 116.82Y, WTI crude up 1.3% $73.33, gold flat $679.7
THU, licking the toad again, DJIA -16 on much higher volume with fugly internals. All UP cept DJTA, NDX, NAZ, SOXX, XAU, XOI. Bonds up BIG 10 yr yield -8bps 4.63, $ down BIG vs 113.43y & up vs 1.3410E, gold down -3% $658, WTI crude down -3% $71
FRI, Fed Rescue, DJIA +233 on heavy volume with pretty internals. All UP. Bonds down 10 yr yield +6bps 4.69, $ up vs 114.295y & down vs 1.3496E, gold up $663.9 WTI crude up $71.18
This week, DJIA -160, since 09/19/05 DJIA +2469. CRB commodities down 310.93 to 306.15
XAU down from 144.31 to 129.36 & gold down $681.6 to $663.9. XOI down 1326.13 to 1309.56 & WTI crude down from $71.47 to $71.18
Volatility VIX up to 5 year high 27.92 to 29.99 (37.5 intraday). Dollar index up from 80.67 to 81.34. $ down vs Yen 118.39 to 114.295 & up vs Euro 1.3698 to 1.3496.
This week bonds up BIG 30yr -3bps; 10yr -11bps, 5yr -23bps, 2yr -27bps, 6mo -59bps. 30 yr @ 5.00%; 10 yr @ 4.69; 5 yr @ 4.36; 2yr @ 4.18; 6 mo @ 4.20.
Recent Inversions: 6mo above 2 yr 06/25/07 - ??? above 5 yr 07/11/07 - 08/18/07 above 10 year 07/17/07 -08/18/07 above 30 year 08/03/07 - 08/09/07
Resistance: DJIA 13100; SP500 1455; NAZ 2525; NDX 1910
Support: DJIA 12850; SP500 1430; NAZ 2450; NDX 1800
TUE, triple digit slap down, DJIA -207 on average volume with horrible internals. All DOWN BIG. Bonds up 10 yr yield -5 bps 4.73, $ up vs 1.3537E & down vs 117.78Y, WTI crude up 1% $72.38, gold down $679.7
WEN, Mr. Toads Wild Ride continues, DJIA -167 on higher volume with fugly internals. All DOWN BIG. Bonds up 10 yr yield -2bps 4.71, $ up vs 1.3450E & creamed vs 116.82Y, WTI crude up 1.3% $73.33, gold flat $679.7
THU, licking the toad again, DJIA -16 on much higher volume with fugly internals. All UP cept DJTA, NDX, NAZ, SOXX, XAU, XOI. Bonds up BIG 10 yr yield -8bps 4.63, $ down BIG vs 113.43y & up vs 1.3410E, gold down -3% $658, WTI crude down -3% $71
FRI, Fed Rescue, DJIA +233 on heavy volume with pretty internals. All UP. Bonds down 10 yr yield +6bps 4.69, $ up vs 114.295y & down vs 1.3496E, gold up $663.9 WTI crude up $71.18
This week, DJIA -160, since 09/19/05 DJIA +2469. CRB commodities down 310.93 to 306.15
XAU down from 144.31 to 129.36 & gold down $681.6 to $663.9. XOI down 1326.13 to 1309.56 & WTI crude down from $71.47 to $71.18
Volatility VIX up to 5 year high 27.92 to 29.99 (37.5 intraday). Dollar index up from 80.67 to 81.34. $ down vs Yen 118.39 to 114.295 & up vs Euro 1.3698 to 1.3496.
This week bonds up BIG 30yr -3bps; 10yr -11bps, 5yr -23bps, 2yr -27bps, 6mo -59bps. 30 yr @ 5.00%; 10 yr @ 4.69; 5 yr @ 4.36; 2yr @ 4.18; 6 mo @ 4.20.
Recent Inversions: 6mo above 2 yr 06/25/07 - ??? above 5 yr 07/11/07 - 08/18/07 above 10 year 07/17/07 -08/18/07 above 30 year 08/03/07 - 08/09/07
Resistance: DJIA 13100; SP500 1455; NAZ 2525; NDX 1910
Support: DJIA 12850; SP500 1430; NAZ 2450; NDX 1800
Comments