Market Soapbox 02/07/08
THU, wavy gravy, DJIA +47 on higher volume with OK internals. All UP cept DJUA, XAU.
Bonds down BIG 10 yr yield +18bps 3.78, $ up BIG vs 1.4482E & vs 107.5y, WTI +1% $88.05, gold up $911.9 TED spread down -13bps 0.92%.
SP500 open 1324 (800DMA), fall to 1316, rise to 1347, fade to close 1336. NDX gap down 1739 to 1723, fall to 1714, rise to 1779, fade to close 1753.
WEN: "Violation of SP500 1325 on a closing basis means redux of 1270 low." SP500 support holding, NDX at 1750.
This still holds as the NDX & SP500 bounced off new lows today. Overnight, Nikkei +0.8%; Hang Seng -5.4%, FTSE -2.6%; DAX -1.6%; CAC -1.9%.
Our dollar comment (will be supported), right on. Two faced ECB reading from Fed script, watch dollar and long rates rise (read today's other comments).
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down BIG 10 yr yield +18bps 3.78, $ up BIG vs 1.4482E & vs 107.5y, WTI +1% $88.05, gold up $911.9 TED spread down -13bps 0.92%.
SP500 open 1324 (800DMA), fall to 1316, rise to 1347, fade to close 1336. NDX gap down 1739 to 1723, fall to 1714, rise to 1779, fade to close 1753.
WEN: "Violation of SP500 1325 on a closing basis means redux of 1270 low." SP500 support holding, NDX at 1750.
This still holds as the NDX & SP500 bounced off new lows today. Overnight, Nikkei +0.8%; Hang Seng -5.4%, FTSE -2.6%; DAX -1.6%; CAC -1.9%.
Our dollar comment (will be supported), right on. Two faced ECB reading from Fed script, watch dollar and long rates rise (read today's other comments).
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Comments