Market Soapbox 09/25/07
TUE, sideways, DJIA +20 on below average volume with midlin internals. All DOWN cept DJTA, NDX, NAZ, SOXX.
Bonds up, 10 yr yield -1 bps 4.62, $ down BIG vs 1.4144E & vs 114.545y, WTI crude down 1.75%, $79.53, gold down $738.8.
Last 3 weeks: "Can NDX hit 2082? Twin Tops?" Today, new high 2076 was hit.
Friday: "will the new & existing home sales get that early Aug. jumbo money panic buying headfake?" No headfake, but, no fall, yet.
SP500, open 1516, fall to 1507, rise to 1517. NDX open 2047, gap up 2049, fall to 2048, rise to 2076.
We suspect a small rise to 2082 NDX tomorrow, then perhaps a broader pullback?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up, 10 yr yield -1 bps 4.62, $ down BIG vs 1.4144E & vs 114.545y, WTI crude down 1.75%, $79.53, gold down $738.8.
Last 3 weeks: "Can NDX hit 2082? Twin Tops?" Today, new high 2076 was hit.
Friday: "will the new & existing home sales get that early Aug. jumbo money panic buying headfake?" No headfake, but, no fall, yet.
SP500, open 1516, fall to 1507, rise to 1517. NDX open 2047, gap up 2049, fall to 2048, rise to 2076.
We suspect a small rise to 2082 NDX tomorrow, then perhaps a broader pullback?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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