Market Soapbox 08/07/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 5.00%; 10 yr @ 4.91; 5 yr @ 4.85; 2yr @ 4.94; 6 mo @ 5.07.
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.
2yr above 10yr 06/08 - 7/26; 6mo & 2yr above 30yr 06/13 - 07/20; 6mo above 10yr 06/02 -?; 6mo above 30yr 06/13 - ? 2 yr went above 10yr 3rd day 08/03.
MON, DJIA -21 on lower volume with ugly internals. This week DJIA -21, since 09/19/05 DJIA +577.
Indexes UP: XOI, XAU DOWN: DJTA, DJUA, NDX, SOXX, MID, RUT
Sectors UP: Gold Bugs, Oil, Commodity DOWN: Tech, Utilities, Transports, Brokers, Biotech, Gold Bugs.
Overseas: FTSE, CAC, DAX & Nikkei -2.2% ALL DOWN BIG; Hang Seng UP.
Dollar UP vs. Euro 1.2848 & DOWN vs. Yen 113.61, XAU & gold UP @ 647.8, XOI UP & crude +3% @ $77, CRB commodities index UP @ 352.01. Natural Gas -4.8%
Market observations and economic reports in todays other posts.
Support: DJIA 10650, SP500 1220, Nasdaq 2000; NDX 1450
YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 5.00%; 10 yr @ 4.91; 5 yr @ 4.85; 2yr @ 4.94; 6 mo @ 5.07.
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.
2yr above 10yr 06/08 - 7/26; 6mo & 2yr above 30yr 06/13 - 07/20; 6mo above 10yr 06/02 -?; 6mo above 30yr 06/13 - ? 2 yr went above 10yr 3rd day 08/03.
MON, DJIA -21 on lower volume with ugly internals. This week DJIA -21, since 09/19/05 DJIA +577.
Indexes UP: XOI, XAU DOWN: DJTA, DJUA, NDX, SOXX, MID, RUT
Sectors UP: Gold Bugs, Oil, Commodity DOWN: Tech, Utilities, Transports, Brokers, Biotech, Gold Bugs.
Overseas: FTSE, CAC, DAX & Nikkei -2.2% ALL DOWN BIG; Hang Seng UP.
Dollar UP vs. Euro 1.2848 & DOWN vs. Yen 113.61, XAU & gold UP @ 647.8, XOI UP & crude +3% @ $77, CRB commodities index UP @ 352.01. Natural Gas -4.8%
Market observations and economic reports in todays other posts.
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