Market Soapbox 01/30/08
WEN, Mr Toads Wild Ride, DJIA -37 on large volume with poor internals. All DOWN cept DJTA, NDX, SOXX, XAU.
Bonds down 10 yr yield +2bps 3.68, $ porked vs 1.4869E & vs 106.34y, WTI down $91.96, gold up $934.7 TED spread up +10bps 1.09%.
Last TUES: "support NDX 1800" 3 days running in place. Last THU: "NDX 1850 & SP500 1375 will provide a stearn test." And how.
TUES: "DJIA, MID, RUT all went over 01/25 high" Today SP500 joined, tech (NAZ & NDX ) failed.
SP500 open 1362, dive to 1352, rise to 1385, plunge to close 1355. NDX gap down 1807 to 1798 (support); rise to 1843, plunge to close 1808 (08/16 line).
Late no confidence collapse sez... Get ready as the bow breaks to the downside and this market explores new depths.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr yield +2bps 3.68, $ porked vs 1.4869E & vs 106.34y, WTI down $91.96, gold up $934.7 TED spread up +10bps 1.09%.
Last TUES: "support NDX 1800" 3 days running in place. Last THU: "NDX 1850 & SP500 1375 will provide a stearn test." And how.
TUES: "DJIA, MID, RUT all went over 01/25 high" Today SP500 joined, tech (NAZ & NDX ) failed.
SP500 open 1362, dive to 1352, rise to 1385, plunge to close 1355. NDX gap down 1807 to 1798 (support); rise to 1843, plunge to close 1808 (08/16 line).
Late no confidence collapse sez... Get ready as the bow breaks to the downside and this market explores new depths.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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