Market Soapbox 12/31/07
MON, triple digit followthrough, DJIA -101 on thin volume with ugly internals. All DOWN.
Bonds up 10 yr yield -5bps 4.03, $ up vs 1.4588E & down vs 111.685y, WTI up $96.24, gold down $838. TED spread down -14bps 1.46%
NDX gap down 2107 to 2097, rise to 2102, plunge to close 2084. SP500 open 1475, fall to 1465, bounce to 1475, fall to close 1468
NDX fell from 75DMA, 100DMA 2065 below, SP500 fell from 250 DMA, sitting on 300DMA 1465. SP500 350 DMA 1445 & NDX 2030 are in clear view.
We sense Jan 2nd or 3rd, to be a major inflection point. A New Year dead cat bounce taking NDX to 2170? Or will this dead man walking take another fall?
TUE, Market Closed, Happy New Year! Wen: Construction Spending. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up 10 yr yield -5bps 4.03, $ up vs 1.4588E & down vs 111.685y, WTI up $96.24, gold down $838. TED spread down -14bps 1.46%
NDX gap down 2107 to 2097, rise to 2102, plunge to close 2084. SP500 open 1475, fall to 1465, bounce to 1475, fall to close 1468
NDX fell from 75DMA, 100DMA 2065 below, SP500 fell from 250 DMA, sitting on 300DMA 1465. SP500 350 DMA 1445 & NDX 2030 are in clear view.
We sense Jan 2nd or 3rd, to be a major inflection point. A New Year dead cat bounce taking NDX to 2170? Or will this dead man walking take another fall?
TUE, Market Closed, Happy New Year! Wen: Construction Spending. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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