Market Soapbox 04/05 & 04/06/06
Resistance: DJIA 11325; SP500 1310; Nasdaq 2350; NDX 1735
Support: DJIA 10950; SP500 1270; Nasdaq 2250; NDX 1635
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Initial claims @ 299K vs prior 304K. Select Tech, Base Metals and Commodities continue to jump.
YTD Materials +9.4%, Energy +12.2% and Telecom +14.5%. Intraday, gold hit $600 per ounce a 25 year high, Nickel jumped 5%, Silver +2.5% , Aluminum +2%, Copper +1.5%, Crude over $68 per barrel.
Average 30 year mortgage at 6.5%, its highest since 2003,. Bond market yields at a 4 year high continuing to telegraph higher rates, potential growth and inflation ahead.
Bonds DOWN BIG with the 30 yr yield rising @ 4.96%; 10 yr @ 4.89; 5 yr @ 4.83; 2yr @ 4.82; 6 mo @ 4.84. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29.
Mon DJIA +35 on higher volume with midlin internals as a month opening influx of funds kept the market afloat excepting the RUT.
Tue DJIA +59 on steady volume with choppy internals. Wen a very nice up day for the markets, DJIA +36 on steady volume with nice internals. DJTA, DJUA, SOX, NDX, NAZ, XOI, XAU, MID & RUT all up nicely along with oil , gold and bonds.
Today, a choppy day, DJIA -23 on lower volume with midlin internals. This week DJIA +107, since 09/23/05 DJIA +526.
Indexes UP: DJTA, SOX, NDX, XAU. DOWN: All others. DJUA slapped down.
Sectors UP: Brokers, Semis, Tech, Commodity, Gold Bugs. DOWN: All others, REIT's, Healthcare, Utilities, Biotech, Pharma & Airlines were rudely kicked down.
Overseas: DAX, CAC, FTSE all flat, Hang Seng & Nikkei 225 up BIG. Tomorrow, Non Farms Payroll.
Dollar UP vs. Euro 1.2280 & vs. Yen 116.51, XAU & gold UP @ 597.30, XOI DOWN & crude UP @ 67.94, CRB commodities index UP @ 339.35.
Tues:"It all looks just peachy, lets see how it holds up through tax day April 15th." Yesterday MID, DJTA, NYSE, SP500 new all time and 5 year highs. An upside surprise on Non Farms Payroll could stoke inflation fears and drive the market down.
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. Initial claims @ 299K vs prior 304K. Select Tech, Base Metals and Commodities continue to jump.
YTD Materials +9.4%, Energy +12.2% and Telecom +14.5%. Intraday, gold hit $600 per ounce a 25 year high, Nickel jumped 5%, Silver +2.5% , Aluminum +2%, Copper +1.5%, Crude over $68 per barrel.
Average 30 year mortgage at 6.5%, its highest since 2003,. Bond market yields at a 4 year high continuing to telegraph higher rates, potential growth and inflation ahead.
Bonds DOWN BIG with the 30 yr yield rising @ 4.96%; 10 yr @ 4.89; 5 yr @ 4.83; 2yr @ 4.82; 6 mo @ 4.84. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29.
Mon DJIA +35 on higher volume with midlin internals as a month opening influx of funds kept the market afloat excepting the RUT.
Tue DJIA +59 on steady volume with choppy internals. Wen a very nice up day for the markets, DJIA +36 on steady volume with nice internals. DJTA, DJUA, SOX, NDX, NAZ, XOI, XAU, MID & RUT all up nicely along with oil , gold and bonds.
Today, a choppy day, DJIA -23 on lower volume with midlin internals. This week DJIA +107, since 09/23/05 DJIA +526.
Indexes UP: DJTA, SOX, NDX, XAU. DOWN: All others. DJUA slapped down.
Sectors UP: Brokers, Semis, Tech, Commodity, Gold Bugs. DOWN: All others, REIT's, Healthcare, Utilities, Biotech, Pharma & Airlines were rudely kicked down.
Overseas: DAX, CAC, FTSE all flat, Hang Seng & Nikkei 225 up BIG. Tomorrow, Non Farms Payroll.
Dollar UP vs. Euro 1.2280 & vs. Yen 116.51, XAU & gold UP @ 597.30, XOI DOWN & crude UP @ 67.94, CRB commodities index UP @ 339.35.
Tues:"It all looks just peachy, lets see how it holds up through tax day April 15th." Yesterday MID, DJTA, NYSE, SP500 new all time and 5 year highs. An upside surprise on Non Farms Payroll could stoke inflation fears and drive the market down.
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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