Market Soapbox 06/04/08
WEN, split tape, DJIA -12 on average volume with midlin internals. All UP cept XOI, XAU, SP500.
Bonds down BIG 10 yr yield +8bps 3.98; $ up vs 1.5442€ & vs 105.23y; WTI -2% $122.06; gold down $883.8; TED Spread flat +0bps 0.83%
SP500 open 1377, dip to 1371, rise to 1388, fade to close 1377. NDX 1997 gap down to open 1991, rise to 2035, close 2021.
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.
WEN: SP500 1370 tested today as name brands are popping up like weeds.
NDX 2035 tested again today, range bound, non farms or name brand surprise could break it.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down BIG 10 yr yield +8bps 3.98; $ up vs 1.5442€ & vs 105.23y; WTI -2% $122.06; gold down $883.8; TED Spread flat +0bps 0.83%
SP500 open 1377, dip to 1371, rise to 1388, fade to close 1377. NDX 1997 gap down to open 1991, rise to 2035, close 2021.
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.
WEN: SP500 1370 tested today as name brands are popping up like weeds.
NDX 2035 tested again today, range bound, non farms or name brand surprise could break it.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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