Market Soapbox Week Ending 10/12/07
MON down, DJIA -22
TUE up, DJIA +121
WEN, split tape, DJIA -86 on low volume with midlin internals. All DOWN cept NDX, NAZ, XAU, XOI. Bonds flat 10 yr yield +0 bps 4.65, $ down vs 1.414E & vs 117.19y, WTI crude up 1% $81.3, gold up $746
THU, +120 on Wal Mart, then -184 on Baidu & Axel, DJIA -64 on higher volume with ugly internals. All DOWN cept DJUA, XAU. Bonds up 10 yr yield -1bps 4.64, $ down vs 1.4202E & up vs 117.315Y, WTI crude up 2.2% $83.08, gold up 1.43% $756.7
FRI, up, DJIA +78 on low volume with pretty internals. All UP. Bonds down 10 yr yield +4bps 4.68, $ up vs 117.638y & vs 1.4176E, gold down $ 753.8, WTI crude up $83.69
This week, DJIA +27, since 09/19/05 DJIA +3484. CRB commodities down 333.67 to 333.5
XAU up 169.09 to 179.04 & gold up 750 to 753.8. XOI up 1440.15 to 1480.04 & WTI crude up 81.39 to 83.69
Volatility VIX up 16.91 to 17.73. Dollar index up 77.75 to 78.2 $ up vs Yen 114.85 to 117.315 & vs Euro 1.4264 to 1.4176
This week bonds down BIG. 30yr +7bps; 10yr +10bps, 5yr +17bps, 2yr +25bps, 6mo +22bps. 30 yr @ 4.90%; 10 yr @ 4.68; 5 yr @ 4.41; 2yr @ 4.22; 6 mo @ 4.29.
Resistance: DJIA 14200; SP500 1575; NAZ 2835; NDX 2195
Support: DJIA 13985; SP500 1545; NAZ 2745; NDX 2120
NDX gapped up from 2140 to 2151, rising close 2177. SP500 open 1555, rising to 1563, close 1561.
Next weeks financial house numbers could either knock it down a step, or send us to new heights.
Will the reality of the debt write downs, CPI, building permits & housing starts be ignored? Probably.
Ample liquidity and blissful ignorance seem to have new highs in store for the Oct 31st rate announcement.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
TUE up, DJIA +121
WEN, split tape, DJIA -86 on low volume with midlin internals. All DOWN cept NDX, NAZ, XAU, XOI. Bonds flat 10 yr yield +0 bps 4.65, $ down vs 1.414E & vs 117.19y, WTI crude up 1% $81.3, gold up $746
THU, +120 on Wal Mart, then -184 on Baidu & Axel, DJIA -64 on higher volume with ugly internals. All DOWN cept DJUA, XAU. Bonds up 10 yr yield -1bps 4.64, $ down vs 1.4202E & up vs 117.315Y, WTI crude up 2.2% $83.08, gold up 1.43% $756.7
FRI, up, DJIA +78 on low volume with pretty internals. All UP. Bonds down 10 yr yield +4bps 4.68, $ up vs 117.638y & vs 1.4176E, gold down $ 753.8, WTI crude up $83.69
This week, DJIA +27, since 09/19/05 DJIA +3484. CRB commodities down 333.67 to 333.5
XAU up 169.09 to 179.04 & gold up 750 to 753.8. XOI up 1440.15 to 1480.04 & WTI crude up 81.39 to 83.69
Volatility VIX up 16.91 to 17.73. Dollar index up 77.75 to 78.2 $ up vs Yen 114.85 to 117.315 & vs Euro 1.4264 to 1.4176
This week bonds down BIG. 30yr +7bps; 10yr +10bps, 5yr +17bps, 2yr +25bps, 6mo +22bps. 30 yr @ 4.90%; 10 yr @ 4.68; 5 yr @ 4.41; 2yr @ 4.22; 6 mo @ 4.29.
Resistance: DJIA 14200; SP500 1575; NAZ 2835; NDX 2195
Support: DJIA 13985; SP500 1545; NAZ 2745; NDX 2120
NDX gapped up from 2140 to 2151, rising close 2177. SP500 open 1555, rising to 1563, close 1561.
Next weeks financial house numbers could either knock it down a step, or send us to new heights.
Will the reality of the debt write downs, CPI, building permits & housing starts be ignored? Probably.
Ample liquidity and blissful ignorance seem to have new highs in store for the Oct 31st rate announcement.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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