Market Soapbox Week Ending 12/29/06
Resistance: DJIA 12550; SP500 1430; Nasdaq 2430; NDX 1775
Support: DJIA 12350, SP500 1410, Nasdaq 2400; NDX 1750
MAJOR YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 4.81%; 10 yr @ 4.70; 5 yr @ 4.69; 2yr @ 4.81; 6 mo @ 5.08.
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 - 12/22
MON, Xmas Market Closed
TUE, thinly traded, broadbased, year end window dressing bounce, DJIA +64 with OK internals. All UP. Bonds up 10 yr 4.60, $ up 119.13y & 1.3096E, gold up 626.50, crude down -2% @ $61.
WEN, thinly traded, broadbased followthrough DJIA +103 with pretty internals. All UP, Bonds down 10 yr 4.65, $ down 118.78y & 1.3121E, gold up $630, crude down 1.2% @ 60.38.
THU, thinly traded and flat, DJIA -9 with ugly internals. All DOWN cept XAU, XOI. Bonds down 10 yr 4.69, $ split 118.91y & 1.3146E, gold up $636, crude up $60.49.
FRI, thinly traded broadbased dip, fading into the close with a high volume bounce, DJIA -38 with horrible internals. All DOWN, Bonds down 10yr 4.70, $ split 119.04y & 1.3196E, crude up $61, gold up $638.30.
This week DJIA +120, since 09/19/05 DJIA +1830.
Dollar DOWN vs. Euro 1.3196 & UP vs. Yen 119.04, XAU UP 142.09 & gold UP @ 638.30, XOI 1189.58 UP & crude DOWN @ $61, CRB commodities index DOWN @ 307.26.
Support: DJIA 12350, SP500 1410, Nasdaq 2400; NDX 1750
MAJOR YIELD CURVE INVERSION: Bonds DOWN with the 30 yr yield rising @ 4.81%; 10 yr @ 4.70; 5 yr @ 4.69; 2yr @ 4.81; 6 mo @ 5.08.
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 - 12/22
MON, Xmas Market Closed
TUE, thinly traded, broadbased, year end window dressing bounce, DJIA +64 with OK internals. All UP. Bonds up 10 yr 4.60, $ up 119.13y & 1.3096E, gold up 626.50, crude down -2% @ $61.
WEN, thinly traded, broadbased followthrough DJIA +103 with pretty internals. All UP, Bonds down 10 yr 4.65, $ down 118.78y & 1.3121E, gold up $630, crude down 1.2% @ 60.38.
THU, thinly traded and flat, DJIA -9 with ugly internals. All DOWN cept XAU, XOI. Bonds down 10 yr 4.69, $ split 118.91y & 1.3146E, gold up $636, crude up $60.49.
FRI, thinly traded broadbased dip, fading into the close with a high volume bounce, DJIA -38 with horrible internals. All DOWN, Bonds down 10yr 4.70, $ split 119.04y & 1.3196E, crude up $61, gold up $638.30.
This week DJIA +120, since 09/19/05 DJIA +1830.
Dollar DOWN vs. Euro 1.3196 & UP vs. Yen 119.04, XAU UP 142.09 & gold UP @ 638.30, XOI 1189.58 UP & crude DOWN @ $61, CRB commodities index DOWN @ 307.26.
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