Market Soapbox Week Ending 08/03/07
MON, bounce, DJIA +93 on average volume with nice internals. All UP cept MID, SOXX, XAU, RUT. Bonds down, 10 yr yield +3 bps 4.81, $ down vs 1.3693E & up vs 118.995Y, WTI crude down $76.83, gold up $677.8
TUE, beat like a cheap set of congas, DJIA -146 on average volume with lousy internals. All DOWN BIG. Bonds up 10 yr yield -5bps 4.76, $ up vs 1.3684E & down vs 118.865Y, WTI crude up 1.8% $78.21, gold up $679.3
WEN, insane gyrations, DJIA +150 on high volume with ugly internals. All UP cept XAU, XOI. Bonds flat 10 yr yield -0bps 4.76, $ up vs 1.3661E & down vs 118.635Y, WTI crude down -2% $76.53, gold down $675.9.
THU, followthrough, DJIA +101 on high volume with nice internals. All UP cept SOXX, XOI . Bonds down 10 yr yield +1bps 4.77, $ up vs 119.22y & down vs 1.3704E, gold up $676.6, WTI crude up $76.86
FRI, caved in, DJIA -281 on high volume with fugly internals. All DOWN BIG. Bonds up BIG 10 yr yield -9bps 4.68, $ down vs 118.055y & vs 1.3774E, gold up 1.1% $684.4, WTI crude down 1.8% $75.48
This week, DJIA -83, since 09/19/05 DJIA +2570. CRB commodities down 319.45 to 318.17
XAU down from 145.65 to 143.72 & gold up from $672.3 to $684.4. XOI down 1354.35 to 1295.46 & WTI crude down from $77.02 to $75.48 an 12 month high.
Volatility VIX up to 4 year high 21.61 to 25.16. Dollar index down from 80.81 to 80.31. $ clubbed down vs Yen 118.855 to 118.055 & vs Euro 1.3646 to 1.3774.
This week bonds up BIG 30yr -7bps; 10yr -10bps, 5yr -11bps, 2yr -13bps, 6mo -4bps. 30 yr @ 4.87%; 10 yr @ 4.68; 5 yr @ 4.49; 2yr @ 4.42; 6 mo @ 4.88.
Recent Inversions: 2yr above 10 yr 12/27/05 - 3/29/06; 06/08/06 - 02/22/07; 05/02/07 - 06/07/07; 2yr above 30 yr 02/09/06 - 3/29/06; 11/03/06- 03/01/07. 6mo above 10yr 06/02/06 -06/07/07; 6mo above 30yr 06/13/06 - 05/25/07.
6mo above 2 yr 06/25/07 - ??? above 5 yr 07/11/07 - ???? above 10 year 07/17/07 - ???? above 30 year 08/03/07 - ????
Resistance: DJIA 13460; SP500 1470; NAZ 2560; NDX 1955
Support: DJIA 13000; SP500 1425; NAZ 2490; NDX 1895
TUE, beat like a cheap set of congas, DJIA -146 on average volume with lousy internals. All DOWN BIG. Bonds up 10 yr yield -5bps 4.76, $ up vs 1.3684E & down vs 118.865Y, WTI crude up 1.8% $78.21, gold up $679.3
WEN, insane gyrations, DJIA +150 on high volume with ugly internals. All UP cept XAU, XOI. Bonds flat 10 yr yield -0bps 4.76, $ up vs 1.3661E & down vs 118.635Y, WTI crude down -2% $76.53, gold down $675.9.
THU, followthrough, DJIA +101 on high volume with nice internals. All UP cept SOXX, XOI . Bonds down 10 yr yield +1bps 4.77, $ up vs 119.22y & down vs 1.3704E, gold up $676.6, WTI crude up $76.86
FRI, caved in, DJIA -281 on high volume with fugly internals. All DOWN BIG. Bonds up BIG 10 yr yield -9bps 4.68, $ down vs 118.055y & vs 1.3774E, gold up 1.1% $684.4, WTI crude down 1.8% $75.48
This week, DJIA -83, since 09/19/05 DJIA +2570. CRB commodities down 319.45 to 318.17
XAU down from 145.65 to 143.72 & gold up from $672.3 to $684.4. XOI down 1354.35 to 1295.46 & WTI crude down from $77.02 to $75.48 an 12 month high.
Volatility VIX up to 4 year high 21.61 to 25.16. Dollar index down from 80.81 to 80.31. $ clubbed down vs Yen 118.855 to 118.055 & vs Euro 1.3646 to 1.3774.
This week bonds up BIG 30yr -7bps; 10yr -10bps, 5yr -11bps, 2yr -13bps, 6mo -4bps. 30 yr @ 4.87%; 10 yr @ 4.68; 5 yr @ 4.49; 2yr @ 4.42; 6 mo @ 4.88.
Recent Inversions: 2yr above 10 yr 12/27/05 - 3/29/06; 06/08/06 - 02/22/07; 05/02/07 - 06/07/07; 2yr above 30 yr 02/09/06 - 3/29/06; 11/03/06- 03/01/07. 6mo above 10yr 06/02/06 -06/07/07; 6mo above 30yr 06/13/06 - 05/25/07.
6mo above 2 yr 06/25/07 - ??? above 5 yr 07/11/07 - ???? above 10 year 07/17/07 - ???? above 30 year 08/03/07 - ????
Resistance: DJIA 13460; SP500 1470; NAZ 2560; NDX 1955
Support: DJIA 13000; SP500 1425; NAZ 2490; NDX 1895
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