Market Soapbox 06/19/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10650, SP500 1210, Nasdaq 2050; NDX 1500
Economic reports & market observations in today's other post.
MAJOR YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 5.18%; 10 yr @ 5.14; 5 yr @ 5.11; 2yr @ 5.18; 6 mo @ 5.22.
Recent Inversions: 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 -?; 2yr above 10yr 06/08 - ? 6mo & 2yr above 30yr 06/13 - ?
MON, DJIA -73 on lower volume, bleeding into the close with ugly internals. This week DJIA -73, since 09/19/05 DJIA +301.
Indexes UP: None DOWN: Everything, RUT, MID, XOI & XAU pounded.
Sectors UP: Airlines, Healthcare DOWN: Everything else, cyclical, commodity, brokers, oil, natural gas, biotech, utilities, tech & gold bugs all pounded.
Overseas: DAX , FTSE, CAC all UP , Hang Seng & Nikkei 225 DOWN.
Dollar UP vs. Euro 1.2659 & Yen 113.84, XAU DOWN -2.3% & gold -1.6% @ 572.4, XOI DOWN -3% & crude DOWN -1.3% @ 68.98, CRB commodities index DOWN -1.7% @ 333.57
Support: DJIA 10650, SP500 1210, Nasdaq 2050; NDX 1500
Economic reports & market observations in today's other post.
MAJOR YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 5.18%; 10 yr @ 5.14; 5 yr @ 5.11; 2yr @ 5.18; 6 mo @ 5.22.
Recent Inversions: 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 -?; 2yr above 10yr 06/08 - ? 6mo & 2yr above 30yr 06/13 - ?
MON, DJIA -73 on lower volume, bleeding into the close with ugly internals. This week DJIA -73, since 09/19/05 DJIA +301.
Indexes UP: None DOWN: Everything, RUT, MID, XOI & XAU pounded.
Sectors UP: Airlines, Healthcare DOWN: Everything else, cyclical, commodity, brokers, oil, natural gas, biotech, utilities, tech & gold bugs all pounded.
Overseas: DAX , FTSE, CAC all UP , Hang Seng & Nikkei 225 DOWN.
Dollar UP vs. Euro 1.2659 & Yen 113.84, XAU DOWN -2.3% & gold -1.6% @ 572.4, XOI DOWN -3% & crude DOWN -1.3% @ 68.98, CRB commodities index DOWN -1.7% @ 333.57
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