Market Soapbox 01/16/08
WEN, wavy gravy, DJIA -35 on higher volume with midlin internals. All DOWN cept SOXX, RUT, DJTA.
Bonds down 10 yr yield +3bps 3.73, $ up vs 1.4659E & vs 107.533y, WTI down 1.2% $90.78, gold down 2.2% $883.2 TED spread down -2bps 0.82%.
SP500 gap down 1380 to 1377, plunge to 1364, bounce to 1391, fade to close 1373. NDX gap down 1894 to 1876, plunge to 1848, bounce to 1907, fade to close 1872.
New lows got put in today, SP500 hovering at long term 600DMA 1370 support line, NDX falling from 1910 support, heading for 400DMA 1840 with more bad news ahead.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down 10 yr yield +3bps 3.73, $ up vs 1.4659E & vs 107.533y, WTI down 1.2% $90.78, gold down 2.2% $883.2 TED spread down -2bps 0.82%.
SP500 gap down 1380 to 1377, plunge to 1364, bounce to 1391, fade to close 1373. NDX gap down 1894 to 1876, plunge to 1848, bounce to 1907, fade to close 1872.
New lows got put in today, SP500 hovering at long term 600DMA 1370 support line, NDX falling from 1910 support, heading for 400DMA 1840 with more bad news ahead.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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