Market Soapbox 09/13/07
THU, upsurge, DJIA +133 on low volume with nice internals. All UP cept SOXX.
Bonds down BIG 10 yr yield +9bps 4.49, $ up vs 1.3881E & vs 115.27Y, WTI crude up & over $80.09, gold down $717.9
SP500, open 1471, rise 1489, bleed to 1483 heading for 100 DMA resistance at 1495.
NDX open 1988, gap up 2005 resistance, fall back to 1988, bang off 2005, bleed to close 1999.
Yesterday: "NDX 2030 is possible, 2060 and twin tops is slim, 2080 after 09/18 and only if the Fed lowered."
NDX needs to crack 2005 barrier to hop up to 2030 area. The bond market has declined 3 straight days, signaling less likelyhood of a rate cut?
NO, betting on the come, signaling that money is flowing back to stocks in anticipation of an upswing after an anticipated Fed cut.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down BIG 10 yr yield +9bps 4.49, $ up vs 1.3881E & vs 115.27Y, WTI crude up & over $80.09, gold down $717.9
SP500, open 1471, rise 1489, bleed to 1483 heading for 100 DMA resistance at 1495.
NDX open 1988, gap up 2005 resistance, fall back to 1988, bang off 2005, bleed to close 1999.
Yesterday: "NDX 2030 is possible, 2060 and twin tops is slim, 2080 after 09/18 and only if the Fed lowered."
NDX needs to crack 2005 barrier to hop up to 2030 area. The bond market has declined 3 straight days, signaling less likelyhood of a rate cut?
NO, betting on the come, signaling that money is flowing back to stocks in anticipation of an upswing after an anticipated Fed cut.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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