Market Observations 07/18/08
Resistance: DJIA 11500 (1100DMA); SP500 1260 (1300DMA); NAZ 2325 (900DMA); NDX 1860 (500DMA)
Support: DJIA 10850 (1500DMA); SP500 1200 (1500DMA); NAZ 2150 (1350DMA); NDX 1750 (850DMA)
SP500 open 1258, rise 1262, fall to 1251, bounce to close 1261. NDX 1853, gap down open 1827, dip 1816, rise to 1834, fade to close 1823.
Citibank beat the number, under the sheets, a $2.5 billion loss.
WEN: the suckers bounce we have been looking for as SP Financials Index +9.5%, a record. Do not be fooled...
THU: We repeat, this is a "chump jump". Caveat emptor.
See Ship of Fools for additional comments.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Support: DJIA 10850 (1500DMA); SP500 1200 (1500DMA); NAZ 2150 (1350DMA); NDX 1750 (850DMA)
SP500 open 1258, rise 1262, fall to 1251, bounce to close 1261. NDX 1853, gap down open 1827, dip 1816, rise to 1834, fade to close 1823.
Citibank beat the number, under the sheets, a $2.5 billion loss.
WEN: the suckers bounce we have been looking for as SP Financials Index +9.5%, a record. Do not be fooled...
THU: We repeat, this is a "chump jump". Caveat emptor.
See Ship of Fools for additional comments.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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