Market Observations 03/15/06
Yesterday: "Friday, The NDX touched 1634 and has bounced up, keep your eye on that support level."
"Despite todays bounce, PG down 2.5% along with GM and the Bulletin Board took a pounding 5 to 1 declining. Seems like a flight to safety."
Yesterdays bond rally (biggest one day gain since Dec 05) gave equities a rise as homebuilding, utilities & banking soared.
Today, OEX a 4 yr high, DJIA & SP500 5 yr highs, NYSE & DJTA all time highs. XAU, XOI, NDX, SOX & GOOG still appear to be in overall down patterns.
Tomorrow CPI is key, if CORE shows a substantial increase, market pulls back. If CORE is perceived as "contained" market advances to fresh heights.
As noted in todays other economic news post, in lieu of bonds, foreigners are gobbling up government trust issues and equities.
We are witnessing in equities the same liquidity bubble effect that has already saturated bonds and real estate.
Note to self: March 23 will be 6 weeks since 02/09 full tilt boogey yield curve inversion where the 2 yr went above the 30 yr.
"Despite todays bounce, PG down 2.5% along with GM and the Bulletin Board took a pounding 5 to 1 declining. Seems like a flight to safety."
Yesterdays bond rally (biggest one day gain since Dec 05) gave equities a rise as homebuilding, utilities & banking soared.
Today, OEX a 4 yr high, DJIA & SP500 5 yr highs, NYSE & DJTA all time highs. XAU, XOI, NDX, SOX & GOOG still appear to be in overall down patterns.
Tomorrow CPI is key, if CORE shows a substantial increase, market pulls back. If CORE is perceived as "contained" market advances to fresh heights.
As noted in todays other economic news post, in lieu of bonds, foreigners are gobbling up government trust issues and equities.
We are witnessing in equities the same liquidity bubble effect that has already saturated bonds and real estate.
Note to self: March 23 will be 6 weeks since 02/09 full tilt boogey yield curve inversion where the 2 yr went above the 30 yr.
Comments