Market Soapbox 12/11/07
TUE, triple double slam, DJIA -294 on lower volume with horrible internals. All DOWN BIG.
Bonds up BIG 10 yr yield -18bps 3.97, $ up vs 1.4671E & down vs 110.72y, WTI crude up 2% $89.72, gold up $817.1
Fri:Resistance "SP500 right on 1510, NDX at 2135. Tuesdays Fed decision and statement hold the key.
50 bps cuts probably garner a rally with year end window dressing till Jan 2nd.
Any kind of disappointment will plunge this market to pre March depths"
NDX open 2137, rise to 2147, plunge to close 2083. SP500 open 1516, rise to 1523, plunge to close 1477.
Fed cut both rate and discount window 25bps. Not enough smack for the market junkies, sell off penetrated SP500 200DMA, NDX 30DMA.
Unless Santa wants to play Tommy (deaf, dumb & blind) SP500 300DMA 1455 and NDX 100DMA 2050 await.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up BIG 10 yr yield -18bps 3.97, $ up vs 1.4671E & down vs 110.72y, WTI crude up 2% $89.72, gold up $817.1
Fri:Resistance "SP500 right on 1510, NDX at 2135. Tuesdays Fed decision and statement hold the key.
50 bps cuts probably garner a rally with year end window dressing till Jan 2nd.
Any kind of disappointment will plunge this market to pre March depths"
NDX open 2137, rise to 2147, plunge to close 2083. SP500 open 1516, rise to 1523, plunge to close 1477.
Fed cut both rate and discount window 25bps. Not enough smack for the market junkies, sell off penetrated SP500 200DMA, NDX 30DMA.
Unless Santa wants to play Tommy (deaf, dumb & blind) SP500 300DMA 1455 and NDX 100DMA 2050 await.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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