Market Soapbox Week Ending 12/08/06
Resistance: DJIA 12400; SP500 1420; Nasdaq 2470; NDX 1825
Support: DJIA 12000, SP500 1400, Nasdaq 2390; NDX 1760
MAJOR YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 4.66%; 10 yr @ 4.56; 5 yr @ 4.53; 2yr @ 4.68; 6 mo @ 5.06.
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, broadbased surge, DJIA +90 on average volume with brillant internals. All UP cept XOI, SP500 broke 1410.
TUE, broadbased followthrough, DJIA +48 on average volume with nice internals. All UP cept XAU, New all time closing highs DJIA, SP500, OEX, DJ COMP, RUT & MID. NDX & NAZ still lagging on new highs.
WEN, a small but broad pullback, DJIA -22 on lower volume with midlin internals. All DOWN cept SOXX.
THU, a broader pullback, DJIA -31 on average volume with ugly internals. All DOWN cept DJTA, XAU.
FRI, a small bounce, DJIA +29 on lower volume with OK internals. All UP cept DJUA, DJTA, SOX, XOI, XAU. Bonds, Gold, Oil down, $ up on Non Farms. This week DJIA +114, since 09/19/05 DJIA +1648.
Dollar UP vs. Euro 1.3204 & vs. Yen 116.41, XAU 143.60 & gold DOWN @ 631.30, XOI 1214.78 & crude DOWN @ $62.07, CRB commodities index DOWN @ 312.38.
Support: DJIA 12000, SP500 1400, Nasdaq 2390; NDX 1760
MAJOR YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 4.66%; 10 yr @ 4.56; 5 yr @ 4.53; 2yr @ 4.68; 6 mo @ 5.06.
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, broadbased surge, DJIA +90 on average volume with brillant internals. All UP cept XOI, SP500 broke 1410.
TUE, broadbased followthrough, DJIA +48 on average volume with nice internals. All UP cept XAU, New all time closing highs DJIA, SP500, OEX, DJ COMP, RUT & MID. NDX & NAZ still lagging on new highs.
WEN, a small but broad pullback, DJIA -22 on lower volume with midlin internals. All DOWN cept SOXX.
THU, a broader pullback, DJIA -31 on average volume with ugly internals. All DOWN cept DJTA, XAU.
FRI, a small bounce, DJIA +29 on lower volume with OK internals. All UP cept DJUA, DJTA, SOX, XOI, XAU. Bonds, Gold, Oil down, $ up on Non Farms. This week DJIA +114, since 09/19/05 DJIA +1648.
Dollar UP vs. Euro 1.3204 & vs. Yen 116.41, XAU 143.60 & gold DOWN @ 631.30, XOI 1214.78 & crude DOWN @ $62.07, CRB commodities index DOWN @ 312.38.
Comments