Market Soapbox 11/14/07
WEN, late day collapse, DJIA -84 on average volume with lousy internals. All DOWN cept XAU.
Bonds up 10 yr yield FLAT 4.26, $ down vs 1.4644E & up vs 111.367y, WTI crude up 3% $94.09, gold up 2% $814.7
Monday: "DJIA below 13K, NDX 1950 and SP500 1400 await." Yesterday: "Is this a dead cat bounce? Next major resistance, NDX 2080 & SP500 1490."
The cat bounced to resistance, then fell hard. NDX gap up 2066 to 2091, flat line, collapse at close to 100 DMA (2030) closing at 2038.
SP500 gap up 1481 to 1492, flat line, collapse to 1466, close at 1470 under 200 DMA 1481. PG up to $71.87, if it falls below $67, watch out.
NDX MAX PAIN 2065 hit yesterday, SP500 fell short of 1515 MAX PAIN. On a chart, the last 10 minutes looked like the market got pushed off a cliff.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up 10 yr yield FLAT 4.26, $ down vs 1.4644E & up vs 111.367y, WTI crude up 3% $94.09, gold up 2% $814.7
Monday: "DJIA below 13K, NDX 1950 and SP500 1400 await." Yesterday: "Is this a dead cat bounce? Next major resistance, NDX 2080 & SP500 1490."
The cat bounced to resistance, then fell hard. NDX gap up 2066 to 2091, flat line, collapse at close to 100 DMA (2030) closing at 2038.
SP500 gap up 1481 to 1492, flat line, collapse to 1466, close at 1470 under 200 DMA 1481. PG up to $71.87, if it falls below $67, watch out.
NDX MAX PAIN 2065 hit yesterday, SP500 fell short of 1515 MAX PAIN. On a chart, the last 10 minutes looked like the market got pushed off a cliff.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Comments