Market Soapbox 04/10/08
THU, bounce, DJIA +55 on lower volume with decent internals. All UP cept DJUA, XAU, XOI.
Bonds down 10 yr yield +5bps 3.53, $ up vs 1.5743€ & down vs 101.675y, WTI down $109.94, gold down $931.8 TED spread up +3bps 1.45%
SP500 open 1355, bounce 1350 (750DMA), rise to 1367, close 1360. NDX open 1827, rise to 1863, close 1853.
WEN: Do tomorrows rate cuts get a pop? They did, favorable GE report could also raise the bar.
Will semi's headfake on bogus tech upgrades carry the day?
Watch NDX reaction at support 1840 (450DMA) & resistance 1875 (400DMA) for clues.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not
Bonds down 10 yr yield +5bps 3.53, $ up vs 1.5743€ & down vs 101.675y, WTI down $109.94, gold down $931.8 TED spread up +3bps 1.45%
SP500 open 1355, bounce 1350 (750DMA), rise to 1367, close 1360. NDX open 1827, rise to 1863, close 1853.
WEN: Do tomorrows rate cuts get a pop? They did, favorable GE report could also raise the bar.
Will semi's headfake on bogus tech upgrades carry the day?
Watch NDX reaction at support 1840 (450DMA) & resistance 1875 (400DMA) for clues.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not
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