Market Soapbox Week Ending 02/16/07
MON, followthrough down, DJIA -25 on lower volume with ugly internals. All DOWN cept DJTA. Bonds down 10 yr 4.80, $ up vs 121.89y & vs 1.2963E, WTI crude down 3.8% $57.62, gold down 1% $666.
TUE, triple digit bounce back, DJIA +102 on lower volume with spiffy internals. All UP. Bonds down 10yr 4.81, $ down vs 121.19y & vs 1.3034E, WTI crude up 2% $58.93, gold up $669.10
WEN, broadbased followthrough on short covering, DJIA +87 on average volume and pretty internals. All UP. Bonds up BIG 10 yr 4.73, $ down vs 120.19y & vs 1.31E, gold down $669, WTI crude down $58.
THU, sideways & up, DJIA +23 on lower volume with nice internals. All UP cept DJUA, DJTA, OEX, XMI, XOI. Bonds up 10 yr 4.71, $ down vs 119.205y & vs 1.3146E, gold up $673.40, WTI crude down $57.99.
FRI, sideways, DJIA +3 on lower volume with midlin internals. All DOWN cept DJTA, MID, RUT. Bonds up 10yr 4.69, $ up vs 119.245y & vs 1.3138E, WTI crude up 2.25% $59.30, gold down $673.
This week, DJIA +190, since 09/19/05 DJIA +2139. Dollar down vs. Euro 1.3138 & vs. Yen 119.245, XAU up 143.02 & gold up 673, XOI down 1161.42 & WTI crude down $59.30, CRB commodities index up 306.48
MAJOR YIELD CURVE INVERSION: This week bonds up with the 10 yr yield falling 9bps. 30 yr @ 4.79%; 10 yr @ 4.69; 5 yr @ 4.68; 2yr @ 4.83; 6 mo @ 5.14.
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 - ?
Resistance: DJIA 12780; SP500 1458; Nasdaq 2500; NDX 1825
Support: DJIA 12605, SP500 1437, Nasdaq 2465; NDX 1790
See yesterday's soapbox for recap. SP500 sitting at 1455, perhaps sideways action then a touch of 1450 or 1445 before herdling 1465?
TUE, triple digit bounce back, DJIA +102 on lower volume with spiffy internals. All UP. Bonds down 10yr 4.81, $ down vs 121.19y & vs 1.3034E, WTI crude up 2% $58.93, gold up $669.10
WEN, broadbased followthrough on short covering, DJIA +87 on average volume and pretty internals. All UP. Bonds up BIG 10 yr 4.73, $ down vs 120.19y & vs 1.31E, gold down $669, WTI crude down $58.
THU, sideways & up, DJIA +23 on lower volume with nice internals. All UP cept DJUA, DJTA, OEX, XMI, XOI. Bonds up 10 yr 4.71, $ down vs 119.205y & vs 1.3146E, gold up $673.40, WTI crude down $57.99.
FRI, sideways, DJIA +3 on lower volume with midlin internals. All DOWN cept DJTA, MID, RUT. Bonds up 10yr 4.69, $ up vs 119.245y & vs 1.3138E, WTI crude up 2.25% $59.30, gold down $673.
This week, DJIA +190, since 09/19/05 DJIA +2139. Dollar down vs. Euro 1.3138 & vs. Yen 119.245, XAU up 143.02 & gold up 673, XOI down 1161.42 & WTI crude down $59.30, CRB commodities index up 306.48
MAJOR YIELD CURVE INVERSION: This week bonds up with the 10 yr yield falling 9bps. 30 yr @ 4.79%; 10 yr @ 4.69; 5 yr @ 4.68; 2yr @ 4.83; 6 mo @ 5.14.
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 - ?
Resistance: DJIA 12780; SP500 1458; Nasdaq 2500; NDX 1825
Support: DJIA 12605, SP500 1437, Nasdaq 2465; NDX 1790
See yesterday's soapbox for recap. SP500 sitting at 1455, perhaps sideways action then a touch of 1450 or 1445 before herdling 1465?
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