Market Soapbox 09/10/07
MON, chop city, DJIA +14 on below average volume with midlin internals. All DOWN cept DJUA, NDX, SOXX.
Bonds up 10 yr yield -4bps 4.33, $ up vs 113.735y & down vs 1.3798E, gold up $712.2 WTI crude up 1% $77.49
Friday: "Broadbased whuppin with 10 to 1 declining volume, we sense a ricochet, with hopes for a Fed Cut could start a small rally, when the Fed refuses pffffttttt."
Mr. Toads Wild Ride: SP500, rise 9 to 1462, fall 23 to 1439, rise 22 to 1461, bled 10 to close 1451.
NDX 1958 gap up & rise 22 to 1980; plunge 36 to 1944, rise 30 to 1974, bled14 to close 1960.
Not much of a ricochet as Asian & Euro markets suffered again. Is it enough to start a rally?
Can't rightly tell. NDX bounced off 50 DMA 1940; SP500 bounced off 250 DMA 1439 to be repelled from 200 DMA at 1460.
What do we know? Big Pig stuffed with ABCP is causing major IBS for the market Python, it could choke on Sept 17th...
when $48 Billion gets chewed on. Fed meets Sept 18 & Oct 31st. BOJ meets Sept 18th, Oct 10th, Oct 31st.
Sept 18th & Oct 31st +/- 2 days are going to be MAJOR inflection points. Between now and then, watch the direction of YTD market leader NDX for clues.
Tomorrow, 6th anniversary of 9/11. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up 10 yr yield -4bps 4.33, $ up vs 113.735y & down vs 1.3798E, gold up $712.2 WTI crude up 1% $77.49
Friday: "Broadbased whuppin with 10 to 1 declining volume, we sense a ricochet, with hopes for a Fed Cut could start a small rally, when the Fed refuses pffffttttt."
Mr. Toads Wild Ride: SP500, rise 9 to 1462, fall 23 to 1439, rise 22 to 1461, bled 10 to close 1451.
NDX 1958 gap up & rise 22 to 1980; plunge 36 to 1944, rise 30 to 1974, bled14 to close 1960.
Not much of a ricochet as Asian & Euro markets suffered again. Is it enough to start a rally?
Can't rightly tell. NDX bounced off 50 DMA 1940; SP500 bounced off 250 DMA 1439 to be repelled from 200 DMA at 1460.
What do we know? Big Pig stuffed with ABCP is causing major IBS for the market Python, it could choke on Sept 17th...
when $48 Billion gets chewed on. Fed meets Sept 18 & Oct 31st. BOJ meets Sept 18th, Oct 10th, Oct 31st.
Sept 18th & Oct 31st +/- 2 days are going to be MAJOR inflection points. Between now and then, watch the direction of YTD market leader NDX for clues.
Tomorrow, 6th anniversary of 9/11. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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