Market Soapbox 06/05/08
THU, double triple surge, DJIA +214 on average volume with sterling internals. All UP BIG.
Bonds down 10 yr +5bps 4.03, $ down vs 1.5594€ & up vs 105.936y, WTI +5% $128.3, gold down $875.5, TED spread FLAT 0.83%.
SP500 open 1377, rise to close 1404. NDX 2021 gap up to open 2027, dip to 2020, rise to close 2055.
SAT: We repeat, watch support at NDX 1945 & SP500 1375, and resistance at NDX 2050 & SP500 1440
MON: NDX 2040 tested Friday, watch SP500 1375 support.
TUE: SP500 1370 tested today as name brands are popping up like weeds.
WEN: NDX 2035 tested again today. Range bound, non farms or name brand surprise could break it.
Today's irrational upsurge tested NDX 2055 & SP500 1405 again. Will $1 Trillion in bond reratings weigh in?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr +5bps 4.03, $ down vs 1.5594€ & up vs 105.936y, WTI +5% $128.3, gold down $875.5, TED spread FLAT 0.83%.
SP500 open 1377, rise to close 1404. NDX 2021 gap up to open 2027, dip to 2020, rise to close 2055.
SAT: We repeat, watch support at NDX 1945 & SP500 1375, and resistance at NDX 2050 & SP500 1440
MON: NDX 2040 tested Friday, watch SP500 1375 support.
TUE: SP500 1370 tested today as name brands are popping up like weeds.
WEN: NDX 2035 tested again today. Range bound, non farms or name brand surprise could break it.
Today's irrational upsurge tested NDX 2055 & SP500 1405 again. Will $1 Trillion in bond reratings weigh in?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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