Market Soapbox 12/26/07
WEN, wavy gravy, DJIA +2 on thin volume with midlin internals. All UP cept DJTA, DJUA, MID, XMI.
Bonds down 10 yr yield +8bps 4.29, $ down vs 1.4491E & up vs 114.315y, WTI up 2% $95.98, gold up 1.5% $829.5
NDX gap down 2128 to 2121, up to 2141, close 2136. SP500 open 1495, down to 1488, rise to close 1498.
NDX & SP500 both closing above resistance for a 2nd day.
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 or 3rd, a day to reckon or wreck on. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down 10 yr yield +8bps 4.29, $ down vs 1.4491E & up vs 114.315y, WTI up 2% $95.98, gold up 1.5% $829.5
NDX gap down 2128 to 2121, up to 2141, close 2136. SP500 open 1495, down to 1488, rise to close 1498.
NDX & SP500 both closing above resistance for a 2nd day.
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 or 3rd, a day to reckon or wreck on. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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