Market Soapbox 02/09/06
Resistance: DJIA 10950; SP500 1285; Nasdaq 2315; NDX 1730
Support: DJIA 10750; SP500 1250; Nasdaq 2245; NDX 1650
Volume:
NYSE +784M -966M Total 1.8B Hi 70 Lo 19
NAZ +1.2B -1.1B Total 2.3B Hi 76 Lo 22
AMEX +37M -34M Total 77M Hi 25 Lo 11
BBOTC +249M -2.4B Total 3.4B Hi 163 Lo 103
In our top story tonight, Generalissimo Francisco Franco is STILL dead. In other news, the $14B 30 year bond auction drew 65.4% indirect bidders, more than enough to allow the dealers to spread their liquidity in the equities market, yet the market suffered.
Initial Claims 277K vs prior 273K, 4th consecutive week below 300K. Wholesale Sales +1%; inventory to sales ratio still a tight 1.5, despite wholesale inventories +1.0% (the biggest gain in 12 months) on increased automotive and non durable goods +1.6% (largest gain in 5 years). Lumber inventories +4%, is anyone building?
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.
Mon, DJIA +5, Tues, a broadbased slapdown, DJIA -49. Wen, a big bounce DJIA +109 on higher volume with pretty internals. Today, DJIA+ 25 on lower volume and midlin internals. This week DJIA +80, over the last 20 weeks DJIA +160.
DJTA, DJUA, & XAU up nicely. NAZ, MID & RUT down, NDX & XOI beat down. CAC, DAX, FTSE, Hang Seng & Nikkei 225 up BIG.
Sectors: Airlines, Gold Bugs, Transports, Utilities & Healthcare up. Biotech, Natural Gas, Oil, Commodity & Tech down.
Dollar up vs. Yen & down vs. Euro, XAU & gold up @ 564, XOI down & crude up @ 62.89, CRB commodities up.
Yield curve MAJOR INVERSION bonds up with the 30 yr yield falling @ 4.65%; 10 yr @ 4.54; 5 yr @ 4.54; 2yr @ 4.65; 6mo @ 4.67; 5 yr = 10 yr; 6mo & 2 yr above the 30 yr.
Looking ahead at potential market influences: Feb 10: Trade Balance, Treasury Budget.
Yesterday: "but can it be sustained? We still look to NDX downside 1630 for support." And we also look to 1795 as an upper limit and somehow doubt we are going there as today's lack of followthrough was very discouraging.
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 10750; SP500 1250; Nasdaq 2245; NDX 1650
Volume:
NYSE +784M -966M Total 1.8B Hi 70 Lo 19
NAZ +1.2B -1.1B Total 2.3B Hi 76 Lo 22
AMEX +37M -34M Total 77M Hi 25 Lo 11
BBOTC +249M -2.4B Total 3.4B Hi 163 Lo 103
In our top story tonight, Generalissimo Francisco Franco is STILL dead. In other news, the $14B 30 year bond auction drew 65.4% indirect bidders, more than enough to allow the dealers to spread their liquidity in the equities market, yet the market suffered.
Initial Claims 277K vs prior 273K, 4th consecutive week below 300K. Wholesale Sales +1%; inventory to sales ratio still a tight 1.5, despite wholesale inventories +1.0% (the biggest gain in 12 months) on increased automotive and non durable goods +1.6% (largest gain in 5 years). Lumber inventories +4%, is anyone building?
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.
Mon, DJIA +5, Tues, a broadbased slapdown, DJIA -49. Wen, a big bounce DJIA +109 on higher volume with pretty internals. Today, DJIA+ 25 on lower volume and midlin internals. This week DJIA +80, over the last 20 weeks DJIA +160.
DJTA, DJUA, & XAU up nicely. NAZ, MID & RUT down, NDX & XOI beat down. CAC, DAX, FTSE, Hang Seng & Nikkei 225 up BIG.
Sectors: Airlines, Gold Bugs, Transports, Utilities & Healthcare up. Biotech, Natural Gas, Oil, Commodity & Tech down.
Dollar up vs. Yen & down vs. Euro, XAU & gold up @ 564, XOI down & crude up @ 62.89, CRB commodities up.
Yield curve MAJOR INVERSION bonds up with the 30 yr yield falling @ 4.65%; 10 yr @ 4.54; 5 yr @ 4.54; 2yr @ 4.65; 6mo @ 4.67; 5 yr = 10 yr; 6mo & 2 yr above the 30 yr.
Looking ahead at potential market influences: Feb 10: Trade Balance, Treasury Budget.
Yesterday: "but can it be sustained? We still look to NDX downside 1630 for support." And we also look to 1795 as an upper limit and somehow doubt we are going there as today's lack of followthrough was very discouraging.
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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