Market Soapbox 04/07/06
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. Todays economic reports covered in another post.
Bonds DOWN MAJOR with the 30 yr yield rising @ 5.05%; 10 yr @ 4.98; 5 yr @ 4.90; 2yr @ 4.90; 6 mo @ 4.92. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29. The 10 year is at a 4 year high.
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. Thur, a choppy day, DJIA -23 on lower volume with midlin internals.
Today, bonds got the WWF slapdown tearing through the 5% yield barrier and so did the market. A broadbased selloff on interest rate fears, DJIA -96 on higher volume with ugly internals. This week DJIA +11, since 09/23/05 DJIA +430.
Indexes UP: None. DOWN: All others. DJUA, XAU, XOI & RUT got punked.
Sectors UP: None. DOWN: All others got punked. Metals tanked -2.5%
Overseas: DAX, CAC, FTSE all DOWN, Hang Seng & Nikkei 225 UP (highest close since July 2000)
Dollar UP BIG vs. Euro 1.2093 & vs. Yen 118.30, XAU & gold DOWN @ 592.70, XOI & crude DOWN @ 67.37, CRB commodities index DOWN @ 337.18. Aluminum +3%, Nickel +1%, Natural Gas -2%, Sugar -3%
Yesterday:"An upside surprise on Non Farms Payroll could stoke inflation fears and drive the market down."
It wasn't the number, it was the persistence over two months, back to back +200K reports dropped a hammer on the bond market and knocked the wind out of the stock market.
More market commentary in today's other posts and we suggest you re-read them.
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 economic reports covered in another post.
Bonds DOWN MAJOR with the 30 yr yield rising @ 5.05%; 10 yr @ 4.98; 5 yr @ 4.90; 2yr @ 4.90; 6 mo @ 4.92. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29. The 10 year is at a 4 year high.
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. Thur, a choppy day, DJIA -23 on lower volume with midlin internals.
Today, bonds got the WWF slapdown tearing through the 5% yield barrier and so did the market. A broadbased selloff on interest rate fears, DJIA -96 on higher volume with ugly internals. This week DJIA +11, since 09/23/05 DJIA +430.
Indexes UP: None. DOWN: All others. DJUA, XAU, XOI & RUT got punked.
Sectors UP: None. DOWN: All others got punked. Metals tanked -2.5%
Overseas: DAX, CAC, FTSE all DOWN, Hang Seng & Nikkei 225 UP (highest close since July 2000)
Dollar UP BIG vs. Euro 1.2093 & vs. Yen 118.30, XAU & gold DOWN @ 592.70, XOI & crude DOWN @ 67.37, CRB commodities index DOWN @ 337.18. Aluminum +3%, Nickel +1%, Natural Gas -2%, Sugar -3%
Yesterday:"An upside surprise on Non Farms Payroll could stoke inflation fears and drive the market down."
It wasn't the number, it was the persistence over two months, back to back +200K reports dropped a hammer on the bond market and knocked the wind out of the stock market.
More market commentary in today's other posts and we suggest you re-read them.
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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