Market Soapbox 06/03/08
TUE, triple digit followthrough, DJIA -101 on average volume with ugly internals. All DOWN cept MID.
Bonds up 10 yr yield -6bps 3.90, $ up vs 1.5459€ & vs 104.97y, WTI -2% $124.3, gold down $884.8, TED spread down -2bps 0.83%.
SP500 open 1387, pop 1393, plunge to 1370, close 1377. NDX 2006 gap up to open 2015, pop to 2027, plunge to 1977, bounce to close 1997.
Auto Sales: Overall -11%, the 7th straight decline. Honda +11%; Nissan +4%; Toyota -8%; Ford -19%; Chrysler -25%; GM -30%
Last week: This irrational bounce could test resistance and have a reality check into a wicked downturn.
MON: NDX 2040 tested Friday, watch SP500 1375 support. SP500 1370 tested today as name brands are popping up like weeds.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up 10 yr yield -6bps 3.90, $ up vs 1.5459€ & vs 104.97y, WTI -2% $124.3, gold down $884.8, TED spread down -2bps 0.83%.
SP500 open 1387, pop 1393, plunge to 1370, close 1377. NDX 2006 gap up to open 2015, pop to 2027, plunge to 1977, bounce to close 1997.
Auto Sales: Overall -11%, the 7th straight decline. Honda +11%; Nissan +4%; Toyota -8%; Ford -19%; Chrysler -25%; GM -30%
Last week: This irrational bounce could test resistance and have a reality check into a wicked downturn.
MON: NDX 2040 tested Friday, watch SP500 1375 support. SP500 1370 tested today as name brands are popping up like weeds.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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