Market Soapbox 03/15/06
Resistance: DJIA 11250; SP500 1310; Nasdaq 2320; NDX 1710
Support: DJIA 10950; SP500 1270; Nasdaq 2250; NDX 1635
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Todays major economic reports covered in another post.
"Contacts generally reported ongoing input cost pressures. Elevated energy costs were mentioned frequently. The costs of many non-petroleum materials--including asphalt, cement, gypsum, lumber, copper, and paper--were on the rise."
Above quote from todays Fed Beige Book, the market could care less. Full Report.
Bonds down BIG with the 30 yr yield rising @ 4.75%; 10 yr @ 4.73; 5 yr @ 4.69; 2yr @ 4.67; 6 mo @ 4.81. 2yr was above the 10 year 12/27 - 03/07; 2 above 30 year 02/09 - 03/07.
Recent DJIA History: 25 weeks ago, -270 breaking key support, 24 weeks +148, 23 weeks -281, 22 weeks -6, 21 weeks -77, (5 week loss -486).
20 weeks recovery begins +186, 19 weeks +128, 18 weeks +154, 17 weeks +79, 16 weeks +165, (5 week gain +712). 15 weeks -53, 14 weeks -99, 13 weeks +99, 12 weeks +8. 11 weeks -168, (5 week loss -213).
10 weeks +242 on a broadbased new year buy in, 9 weeks +0, 8 weeks -292, 7 weeks +240, 6 weeks -113. (5 week gain +77). 5 weeks +125, 4 weeks +196, 3 weeks -52. 2 weeks +6. Last week +61, (5 week gain +336),
Mon. DJIA +0 in a flat tepid low volume day. Tues, a broadbased bounce DJIA +75 on slightly higher volume with nice internals.
Today, DJIA +58 on steady volume with decent internals. This week DJIA +133, over the last 23 weeks DJIA +559.
Airlines, Gold Bugs, Networking, Oil, Transports, Tech, Cyclical & Healthcare up nicely. Tobacco down.
DJTA, NDX, XOI, XAU, MID & RUT up nicely. CAC, DAX, FTSE, Hang Seng & Nikkei 225 all up.
Dollar clubbed down again vs. Euro 1.2073 & vs.Yen 117.28, XAU & gold up @ 554.70, XOI up & crude down 1.5% @ 62.17, CRB commodities down @ 325.63.
Looking ahead at potential market influences: Mar 16 Building Permits, Core CPI, CPI, Housing Starts, Initial Claims, Philly Fed; Mar 17 Capacity Utilization, Industrial Production, Mich Sentiment.
TMWX Wilshire 5000 hit a level not seen since 11/10/00. More recent market observations covered in another post.
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 10950; SP500 1270; Nasdaq 2250; NDX 1635
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Todays major economic reports covered in another post.
"Contacts generally reported ongoing input cost pressures. Elevated energy costs were mentioned frequently. The costs of many non-petroleum materials--including asphalt, cement, gypsum, lumber, copper, and paper--were on the rise."
Above quote from todays Fed Beige Book, the market could care less. Full Report.
Bonds down BIG with the 30 yr yield rising @ 4.75%; 10 yr @ 4.73; 5 yr @ 4.69; 2yr @ 4.67; 6 mo @ 4.81. 2yr was above the 10 year 12/27 - 03/07; 2 above 30 year 02/09 - 03/07.
Recent DJIA History: 25 weeks ago, -270 breaking key support, 24 weeks +148, 23 weeks -281, 22 weeks -6, 21 weeks -77, (5 week loss -486).
20 weeks recovery begins +186, 19 weeks +128, 18 weeks +154, 17 weeks +79, 16 weeks +165, (5 week gain +712). 15 weeks -53, 14 weeks -99, 13 weeks +99, 12 weeks +8. 11 weeks -168, (5 week loss -213).
10 weeks +242 on a broadbased new year buy in, 9 weeks +0, 8 weeks -292, 7 weeks +240, 6 weeks -113. (5 week gain +77). 5 weeks +125, 4 weeks +196, 3 weeks -52. 2 weeks +6. Last week +61, (5 week gain +336),
Mon. DJIA +0 in a flat tepid low volume day. Tues, a broadbased bounce DJIA +75 on slightly higher volume with nice internals.
Today, DJIA +58 on steady volume with decent internals. This week DJIA +133, over the last 23 weeks DJIA +559.
Airlines, Gold Bugs, Networking, Oil, Transports, Tech, Cyclical & Healthcare up nicely. Tobacco down.
DJTA, NDX, XOI, XAU, MID & RUT up nicely. CAC, DAX, FTSE, Hang Seng & Nikkei 225 all up.
Dollar clubbed down again vs. Euro 1.2073 & vs.Yen 117.28, XAU & gold up @ 554.70, XOI up & crude down 1.5% @ 62.17, CRB commodities down @ 325.63.
Looking ahead at potential market influences: Mar 16 Building Permits, Core CPI, CPI, Housing Starts, Initial Claims, Philly Fed; Mar 17 Capacity Utilization, Industrial Production, Mich Sentiment.
TMWX Wilshire 5000 hit a level not seen since 11/10/00. More recent market observations covered in another post.
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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