Market Soapbox 06/02/08
MON, triple digit down, DJIA -135 on average volume with ugly internals. All DOWN cept XAU, XOI.
Bonds up BIG 10 yr yield -10bps 3.96, $ up vs 1.554€ & down vs 104.465y, WTI up $127.62, gold up $897, TED spread up +7bps 0.85%.
SP500 open 1399, fall to 1377 support, close 1387. NDX 2032, gap down open 2026, fall to 1989, close 2006.
Last week: This irrational bounce could test resistance and have a reality check into a wicked downturn.
NDX 2040 tested Friday, today falling CEO's; ratings and a fall from grace. Watch SP500 1375 support.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up BIG 10 yr yield -10bps 3.96, $ up vs 1.554€ & down vs 104.465y, WTI up $127.62, gold up $897, TED spread up +7bps 0.85%.
SP500 open 1399, fall to 1377 support, close 1387. NDX 2032, gap down open 2026, fall to 1989, close 2006.
Last week: This irrational bounce could test resistance and have a reality check into a wicked downturn.
NDX 2040 tested Friday, today falling CEO's; ratings and a fall from grace. Watch SP500 1375 support.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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