Market Soapbox 02/06/06
Resistance: DJIA 10950; SP500 1285; Nasdaq 2315; NDX 1730
Support: DJIA 10770; SP500 1260; Nasdaq 2250; NDX 1650
Volume:
NYSE +916M -594M Total 1.5B Hi 120 Lo 29
NAZ +925M -851M Total 1.8B Hi 130 Lo 34
AMEX +53M -21M Total 77M Hi 54 Lo 10
BBOTC +5B -900M Total 7B Hi 149 Lo 96
In our top story tonight, Generalissimo Francisco Franco is STILL dead. In other news, as you are on a need to know basis, dealing with splinter jihads and rogue operations will have the Nattering one MIA until Thursday, on the road again.
Today, the 6mo and 2yr bond went over the 30 year bond. Lets see how long this "full tilt boogey" condition persists.
Recent DJIA History: 20 weeks ago, -270 breaking key support, 19 weeks +148, 18 weeks -281, 17 weeks -6, 16 weeks -77, 5 week loss -486. 15 weeks recovery begins +186, 14 weeks +128, 13 weeks +154, 12 weeks +79, 11 weeks +165, 5 week gain +712.
10 weeks -53, 9 weeks -99, 8 weeks +99, 7 weeks +8. 6 weeks -168, 5 week loss -213. 5 weeks +242 on a broadbased new year buy in, 4 weeks +0, 3 weeks -292, 2 weeks +240, 1 week -113. 5 week gain +75.
Today, flat and sideways, DJIA +5 on slightly less volume with decent internals. This week DJIA +5, over the last 19 weeks DJIA +95.
DJUA, DJTA, XOI, XAU, MID, RUT & SOX up nicely. NDX & NAZ down. CAC, DAX & FTSE up, Hang Seng & Nikkei 225 up.
Sectors: Airlines, Tech, Pharma & Healthcare pounded down. Semis, Commodity, Oil, Natural Gas & Gold Bugs hoppin up.
Dollar up vs. Yen 1.1845 & Euro 1.1995 , XAU & gold up @ 569.5, XOI up & crude down @ 64.80, CRB commodities down, natural gas -1.8%.
Yield curve MAJOR INVERSION bonds down with the 30 yr yield rising @ 4.62%; 10 yr @ 4.54; 5 yr @ 4.51; 2yr @ 4.61; 6mo @ 4.65; 6mo & 2yr above the 10 & 30 yr.
Looking ahead at potential market influences: Feb 7: Consumer Credit; Feb 8: EIA Inventories; Feb 9: Initial Claims, Wholesale Inventories; Feb 10: Trade Balance, Treasury Budget.
Reporting Tues: Cisco, CSC, Coca Cola, Fortune Brands, Nordic American Tanker, Occidental Petroleum,
Friday: SOX, RUT, DJTA & MID firmly resting on 15DMA . DJIA, SP500 & NAZ fell through and hanging on to 45DMA, NDX & DJUA let go and free falling from 45DMA.
The DJIA bounced up from & DJUA sits on 75 DMA, the NAZ hangs from 50 DMA,while the SP500 may have found support at 1260, watch closely. RUT, MID, SOX, XOI & XAU are well above near term support.
The major offender NDX hit his 11/17/05 low of 1657 today. The current downtrend has NDX hanging off of 75 DMA. We watch intently to see if he catches support or heads further south to violate the 1633 low on 01/03/06 for further clues.
On Wend, Thurs we expect indirect bidders (foreign central banks) to step up on bonds during the auctions, the PPT should be able to prop up equities and cause a slight near term updraft.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
Support: DJIA 10770; SP500 1260; Nasdaq 2250; NDX 1650
Volume:
NYSE +916M -594M Total 1.5B Hi 120 Lo 29
NAZ +925M -851M Total 1.8B Hi 130 Lo 34
AMEX +53M -21M Total 77M Hi 54 Lo 10
BBOTC +5B -900M Total 7B Hi 149 Lo 96
In our top story tonight, Generalissimo Francisco Franco is STILL dead. In other news, as you are on a need to know basis, dealing with splinter jihads and rogue operations will have the Nattering one MIA until Thursday, on the road again.
Today, the 6mo and 2yr bond went over the 30 year bond. Lets see how long this "full tilt boogey" condition persists.
Recent DJIA History: 20 weeks ago, -270 breaking key support, 19 weeks +148, 18 weeks -281, 17 weeks -6, 16 weeks -77, 5 week loss -486. 15 weeks recovery begins +186, 14 weeks +128, 13 weeks +154, 12 weeks +79, 11 weeks +165, 5 week gain +712.
10 weeks -53, 9 weeks -99, 8 weeks +99, 7 weeks +8. 6 weeks -168, 5 week loss -213. 5 weeks +242 on a broadbased new year buy in, 4 weeks +0, 3 weeks -292, 2 weeks +240, 1 week -113. 5 week gain +75.
Today, flat and sideways, DJIA +5 on slightly less volume with decent internals. This week DJIA +5, over the last 19 weeks DJIA +95.
DJUA, DJTA, XOI, XAU, MID, RUT & SOX up nicely. NDX & NAZ down. CAC, DAX & FTSE up, Hang Seng & Nikkei 225 up.
Sectors: Airlines, Tech, Pharma & Healthcare pounded down. Semis, Commodity, Oil, Natural Gas & Gold Bugs hoppin up.
Dollar up vs. Yen 1.1845 & Euro 1.1995 , XAU & gold up @ 569.5, XOI up & crude down @ 64.80, CRB commodities down, natural gas -1.8%.
Yield curve MAJOR INVERSION bonds down with the 30 yr yield rising @ 4.62%; 10 yr @ 4.54; 5 yr @ 4.51; 2yr @ 4.61; 6mo @ 4.65; 6mo & 2yr above the 10 & 30 yr.
Looking ahead at potential market influences: Feb 7: Consumer Credit; Feb 8: EIA Inventories; Feb 9: Initial Claims, Wholesale Inventories; Feb 10: Trade Balance, Treasury Budget.
Reporting Tues: Cisco, CSC, Coca Cola, Fortune Brands, Nordic American Tanker, Occidental Petroleum,
Friday: SOX, RUT, DJTA & MID firmly resting on 15DMA . DJIA, SP500 & NAZ fell through and hanging on to 45DMA, NDX & DJUA let go and free falling from 45DMA.
The DJIA bounced up from & DJUA sits on 75 DMA, the NAZ hangs from 50 DMA,while the SP500 may have found support at 1260, watch closely. RUT, MID, SOX, XOI & XAU are well above near term support.
The major offender NDX hit his 11/17/05 low of 1657 today. The current downtrend has NDX hanging off of 75 DMA. We watch intently to see if he catches support or heads further south to violate the 1633 low on 01/03/06 for further clues.
On Wend, Thurs we expect indirect bidders (foreign central banks) to step up on bonds during the auctions, the PPT should be able to prop up equities and cause a slight near term updraft.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
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