Market Soapbox Week Ending 01/19/06
Resistance: DJIA 12615; SP500 1435; Nasdaq 2500; NDX 1845
Support: DJIA 12460, SP500 1420, Nasdaq 2445; NDX 1790
MAJOR YIELD CURVE INVERSION: Bonds down with the 30 yr yield rising @ 4.86%; 10 yr @ 4.78; 5 yr @ 4.78; 2yr @ 4.92; 6 mo @ 5.16.
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, market closed MLK day.
TUE, sideways split tape day, DJIA +27 on average volume with midlin internals. All DOWN cept DJTA, DJUA, SP500. Bonds down 10yr 4.66, $ up vs 120.84y & flat vs 1.2918E, crude down 3.4% @ $51.21, gold down @ $625.90
WEN, tech sell off, DJIA -6 on average volume and midlin internals. All DOWN cept XAU, XOI, DJUA. Bonds down 10 yr 4.78, $ down vs 120.665y & vs 1.2933E, gold +1% $632.60, crude +2% @ 52.25.
THU, tech down BIG, DJIA -9 on higher volume with ugly internals. All DOWN cept DJTA, SOXX -4%. Bonds up 10 yr 4.75, $ up 121.24y & down 1.2962E, gold down $628.20, crude plunging 3% $50.59.
FRI, tech rebounds, split tape, DJIA -2 on average volume with nice internals. All UP cept DJIA. Bonds down 10yr 4.78, $ up vs 121.24y & down vs 1.2966E, crude up 2.8% @ $51.90, gold up 1.2% @ $635.90.
This week, DJIA +10, since 09/19/05 DJIA +1933. Dollar down vs. Euro 1.2966 & up vs. Yen 121.24, XAU down 133.12 & gold up 635.90, XOI up 1137.66 & crude down @ $51.90, CRB commodities index down 290.48
Support: DJIA 12460, SP500 1420, Nasdaq 2445; NDX 1790
MAJOR YIELD CURVE INVERSION: Bonds down with the 30 yr yield rising @ 4.86%; 10 yr @ 4.78; 5 yr @ 4.78; 2yr @ 4.92; 6 mo @ 5.16.
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, market closed MLK day.
TUE, sideways split tape day, DJIA +27 on average volume with midlin internals. All DOWN cept DJTA, DJUA, SP500. Bonds down 10yr 4.66, $ up vs 120.84y & flat vs 1.2918E, crude down 3.4% @ $51.21, gold down @ $625.90
WEN, tech sell off, DJIA -6 on average volume and midlin internals. All DOWN cept XAU, XOI, DJUA. Bonds down 10 yr 4.78, $ down vs 120.665y & vs 1.2933E, gold +1% $632.60, crude +2% @ 52.25.
THU, tech down BIG, DJIA -9 on higher volume with ugly internals. All DOWN cept DJTA, SOXX -4%. Bonds up 10 yr 4.75, $ up 121.24y & down 1.2962E, gold down $628.20, crude plunging 3% $50.59.
FRI, tech rebounds, split tape, DJIA -2 on average volume with nice internals. All UP cept DJIA. Bonds down 10yr 4.78, $ up vs 121.24y & down vs 1.2966E, crude up 2.8% @ $51.90, gold up 1.2% @ $635.90.
This week, DJIA +10, since 09/19/05 DJIA +1933. Dollar down vs. Euro 1.2966 & up vs. Yen 121.24, XAU down 133.12 & gold up 635.90, XOI up 1137.66 & crude down @ $51.90, CRB commodities index down 290.48
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