Market Soapbox 09/05/07
WEN, down, DJIA -143 on lower volume with ugly internals. All DOWN.
Bonds up BIG 10 yr yield -8 bps 4.47, $ down vs 1.3649E & down BIG vs 115.255Y, WTI crude up 1% $75.92, gold down $690.7
The Looking Glass for Real Estate... Iphone $500 price too high, sluggish sales, Apple cut its price by 40% or $200.
Last week: "We sense another swing coming Sept 4 or 5th." Yesterday: "With resistance above and the late day downdraft, is that all there is? (downdraft)"
Apparently not as the late day swing on the 4th continued downwards through critical support levels.
SP500 repelled from 1495 100 DMA late yesterday, opened 1489, down 23 to 1466, up 6 to close 1472, at 150 DMA.
NDX 2020 gap down to 2013, bounce to 2017, down to 1987, up to close 1994. Yen up as carry trade continues to unwind.
Yesterday: "Does NDX 2082 and twin tops await by late Friday?" Even if 1990 support holds, probably not, even by early Monday.
Later next week? Maybe on short covering? Barring any further landmines getting stepped on and associated downdraft.
We sense Wachovia & Citibank getting sucked into the Dead Pool with Countrywide. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up BIG 10 yr yield -8 bps 4.47, $ down vs 1.3649E & down BIG vs 115.255Y, WTI crude up 1% $75.92, gold down $690.7
The Looking Glass for Real Estate... Iphone $500 price too high, sluggish sales, Apple cut its price by 40% or $200.
Last week: "We sense another swing coming Sept 4 or 5th." Yesterday: "With resistance above and the late day downdraft, is that all there is? (downdraft)"
Apparently not as the late day swing on the 4th continued downwards through critical support levels.
SP500 repelled from 1495 100 DMA late yesterday, opened 1489, down 23 to 1466, up 6 to close 1472, at 150 DMA.
NDX 2020 gap down to 2013, bounce to 2017, down to 1987, up to close 1994. Yen up as carry trade continues to unwind.
Yesterday: "Does NDX 2082 and twin tops await by late Friday?" Even if 1990 support holds, probably not, even by early Monday.
Later next week? Maybe on short covering? Barring any further landmines getting stepped on and associated downdraft.
We sense Wachovia & Citibank getting sucked into the Dead Pool with Countrywide. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Comments