Market Soapbox 06/02/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10850; SP500 1250; Nasdaq 2150; NDX 1550
In our top story tonight, Generalissimo Francisco Franco is STILL dead. May Non Farm Payrolls a pathetic +75K, saving the bond market. Unemployment @ 4.6%, Pulte Homes hit a 52 week low, slowdown in housing.
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.09%; 10 yr @ 4.99; 5 yr @ 4.90; 2yr @ 4.91`; 6 mo @ 5.00. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29. 6mo above 10yr 06/02.
TUE, A broadbased triple digit drop with AUTHORITY and EXTREME VOLATILITY VIX +23%. DJIA -184 on slightly higher volume with abysmal internals.
WEN, a rebound DJIA +74 on higher volume with decent internals. MID & RUT up nicely.
THU, rebound continues in a broadbased fashion, DJIA +92 on slightly lower volume with decent internals.
FRI, a seesaw day, DJIA -12 on lower volume with midlin internals. This week DJIA -30, since 09/19/05 DJIA +607.
Indexes UP: DJUA, XAU, XOI DOWN: NDX Sectors UP: All others DOWN: Airlines
Overseas: DAX DOWN, CAC, FTSE UP, Hang Seng & Nikkei 225 UP BIG.
Dollar DOWN vs. Euro 1.2939 & vs. Yen 111.29, XAU +1.4% & gold UP 1.2% @ 638.2, XOI +1.5% & crude UP @ 72.65, CRB commodities index UP 2% @ 350.05.
Bond rally continues BIG, Dollar still getting hammered, Oil above $70, Gold bounces off a 5 week low, and a slowdown SEEMS imminent.
Is there a pause in the cards? What will the markets do? We watch for June 11 - 29th as a range for a major market inflection.
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 10850; SP500 1250; Nasdaq 2150; NDX 1550
In our top story tonight, Generalissimo Francisco Franco is STILL dead. May Non Farm Payrolls a pathetic +75K, saving the bond market. Unemployment @ 4.6%, Pulte Homes hit a 52 week low, slowdown in housing.
YIELD CURVE INVERSION: Bonds UP with the 30 yr yield falling @ 5.09%; 10 yr @ 4.99; 5 yr @ 4.90; 2yr @ 4.91`; 6 mo @ 5.00. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29. 6mo above 10yr 06/02.
TUE, A broadbased triple digit drop with AUTHORITY and EXTREME VOLATILITY VIX +23%. DJIA -184 on slightly higher volume with abysmal internals.
WEN, a rebound DJIA +74 on higher volume with decent internals. MID & RUT up nicely.
THU, rebound continues in a broadbased fashion, DJIA +92 on slightly lower volume with decent internals.
FRI, a seesaw day, DJIA -12 on lower volume with midlin internals. This week DJIA -30, since 09/19/05 DJIA +607.
Indexes UP: DJUA, XAU, XOI DOWN: NDX Sectors UP: All others DOWN: Airlines
Overseas: DAX DOWN, CAC, FTSE UP, Hang Seng & Nikkei 225 UP BIG.
Dollar DOWN vs. Euro 1.2939 & vs. Yen 111.29, XAU +1.4% & gold UP 1.2% @ 638.2, XOI +1.5% & crude UP @ 72.65, CRB commodities index UP 2% @ 350.05.
Bond rally continues BIG, Dollar still getting hammered, Oil above $70, Gold bounces off a 5 week low, and a slowdown SEEMS imminent.
Is there a pause in the cards? What will the markets do? We watch for June 11 - 29th as a range for a major market inflection.
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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