Market Soapbox 12/24 & 12/25/07
MON, followthrough, DJIA +99 on lower half day volume with nice internals. All UP.
Bonds down 10 yr yield +4bps 4.21, $ down vs 1.4394E & up vs 114.285y, WTI up $94.13, gold up $816.5
NDX open 2113, rise to close 2128. SP500 open 1484, rise to close 1496 .
Last Thurs: "watch test of resistance at 2100-2120 or support at 2020-2000." NDX & SP500 both closing 10 pts above resistance
Until proven otherwise, this tech led rally smells like a head fake for month, quarter and year end window dressing.
We still sense Jan 2nd, a day to reckon or wreck on. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
TUE, Market Closed, Merry Christmas and Happy Holidays!
Bonds down 10 yr yield +4bps 4.21, $ down vs 1.4394E & up vs 114.285y, WTI up $94.13, gold up $816.5
NDX open 2113, rise to close 2128. SP500 open 1484, rise to close 1496 .
Last Thurs: "watch test of resistance at 2100-2120 or support at 2020-2000." NDX & SP500 both closing 10 pts above resistance
Until proven otherwise, this tech led rally smells like a head fake for month, quarter and year end window dressing.
We still sense Jan 2nd, a day to reckon or wreck on. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
TUE, Market Closed, Merry Christmas and Happy Holidays!
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