Market Soapbox Week Ending 11/24/06
Resistance: DJIA 12500; SP500 1415; Nasdaq 2480; NDX 1860
Support: DJIA 12250, SP500 1390, Nasdaq 2380; NDX 1760
MAJOR YIELD CURVE INVERSION: Bonds UP BIG with the 30 yr yield falling @ 4.65%; 10 yr @ 4.55; 5 yr @ 4.53; 2yr @ 4.71; 6 mo @ 5.13.
Recent Inversions: 2yr above 10 yr 12/27 - 03/07; 03/20 - 3/29; 06/08 - 07/26. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29; 6mo & 2yr above 30yr 06/13 - 07/20.
2yr above 10yr 08/03 - ?; 6mo above 10yr 06/02 -?; 6mo above 30yr 06/13 - ? 2 yr above 30yr 11/03 - ?
MON, split tape redux, DJIA -26 on lower volume with midlin internals. All DOWN cept RUT, MID, SOXX, NDX. Bonds up 10 yr 4.55, crude under $56. Gold steady $622. Large afterhours volume spikes on AMEX & NDX.
TUE, more sideways chop, DJIA +5 on low volume with midlin internals. All UP cept XMI & SOXX. Bonds & crude UP over $60, gold UP at $628.
WEN, more sideways & up chop, thinly traded DJIA +5 with nice internals. All UP cept XOI. Gold $630, crude under $59, Bonds UP, 10 yr @ 4.56, VIX under 10 at 1 year low. SP500 hit 1408.
THU, Revenge of the Gobbler, Market Closed.
FRI, a broadbased gap down, DJIA -47 on a thinly traded shortened day with midlin internals. All DOWN cept AMEX, XAU, DJUA. This week DJIA -63, since 09/19/05 DJIA +1620.
Dollar POUNDED DOWN BIG vs. Euro 1.3095 & vs. Yen 115.85, XAU 141.52 & gold UP BIG @ 645.50, XOI 1162.88 & crude UP @ $59.91, CRB commodities index UP @ 308.51.
Support: DJIA 12250, SP500 1390, Nasdaq 2380; NDX 1760
MAJOR YIELD CURVE INVERSION: Bonds UP BIG with the 30 yr yield falling @ 4.65%; 10 yr @ 4.55; 5 yr @ 4.53; 2yr @ 4.71; 6 mo @ 5.13.
Recent Inversions: 2yr above 10 yr 12/27 - 03/07; 03/20 - 3/29; 06/08 - 07/26. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29; 6mo & 2yr above 30yr 06/13 - 07/20.
2yr above 10yr 08/03 - ?; 6mo above 10yr 06/02 -?; 6mo above 30yr 06/13 - ? 2 yr above 30yr 11/03 - ?
MON, split tape redux, DJIA -26 on lower volume with midlin internals. All DOWN cept RUT, MID, SOXX, NDX. Bonds up 10 yr 4.55, crude under $56. Gold steady $622. Large afterhours volume spikes on AMEX & NDX.
TUE, more sideways chop, DJIA +5 on low volume with midlin internals. All UP cept XMI & SOXX. Bonds & crude UP over $60, gold UP at $628.
WEN, more sideways & up chop, thinly traded DJIA +5 with nice internals. All UP cept XOI. Gold $630, crude under $59, Bonds UP, 10 yr @ 4.56, VIX under 10 at 1 year low. SP500 hit 1408.
THU, Revenge of the Gobbler, Market Closed.
FRI, a broadbased gap down, DJIA -47 on a thinly traded shortened day with midlin internals. All DOWN cept AMEX, XAU, DJUA. This week DJIA -63, since 09/19/05 DJIA +1620.
Dollar POUNDED DOWN BIG vs. Euro 1.3095 & vs. Yen 115.85, XAU 141.52 & gold UP BIG @ 645.50, XOI 1162.88 & crude UP @ $59.91, CRB commodities index UP @ 308.51.
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