Market Soapbox 05/14/08
WEN, wavy gravy, DJIA +66 on light volume with nice internals. All UP cept NDX, XAU, XOI, RUT.
Bonds up 10 yr yield -1 bps 3.91, $ up vs 1.5462€ & vs 105.11y, WTI -1.4% $123.99, gold down $866.5, TED spread up +4bps 0.90%
SP500 open 1405, rise to 1420, collapse to close 1408 . NDX 2000, gap up to open 2008, rise to 2028, collapse to close 1997.
On 04/19 we initially brought up NDX 2020 as critical resistance. The NDX hit 2028 just before 2PM EST, then the market collapsed into the close.
NDX sitting on 2000, SP500 pushed 1420 and fell to 1408, still not near our 1455 target.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up 10 yr yield -1 bps 3.91, $ up vs 1.5462€ & vs 105.11y, WTI -1.4% $123.99, gold down $866.5, TED spread up +4bps 0.90%
SP500 open 1405, rise to 1420, collapse to close 1408 . NDX 2000, gap up to open 2008, rise to 2028, collapse to close 1997.
On 04/19 we initially brought up NDX 2020 as critical resistance. The NDX hit 2028 just before 2PM EST, then the market collapsed into the close.
NDX sitting on 2000, SP500 pushed 1420 and fell to 1408, still not near our 1455 target.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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