Market Soapbox Week Ending 08/31/07
MON, downdraft, DJIA -57 on thin volume with lousy internals. All DOWN. Short term bonds up BIG, 10 yr yield -4 bps 4.58, $ up vs 1.3648E & down vs 116.112Y, WTI crude up 1.3% $71.97, gold down $676.2
TUE, vortex, DJIA -280 on thin volume with horrific internals. All DOWN 2%. Bonds up BIG 10 yr yield -6 bps 4.52, $ up vs 1.3617E & down BIG vs 114.52Y, WTI crude down $71.73, gold down $673.5
WEN, mirror bounce, DJIA +247 on low volume with sparkling internals. All UP 2%. Bonds down 10 yr yield +3bps 4.55, $ down vs 1.3658E & up BIG vs 115.759Y, WTI crude up 2% $73.56, gold up $675.1
THU, split tape, DJIA -51 on low volume with poor internals. All DOWN cept NAZ, NDX, SOXX, XOI. Bonds up 10 yr yield -3bps 4.52, $ up vs 115.795y & vs 1.3622E, gold down $673.9, WTI crude down $73.36
FRI, updraft, DJIA +119 on tepid volume with pretty internals. All UP BIG. Bonds down 10 yr yield +1bps 4.53, $ up vs 115.945y & down vs 1.363E, gold up 1% $681.9 WTI crude up 1% $74.04
This week, DJIA -22, since 09/19/05 DJIA +2747.
CRB commodities up 305.64 to 308.76 XAU up 139.43 to 140.77 & gold up $677.5 to $681.90 XOI up 1352.55 to 1364.1 & WTI crude up $71.09 to $74.04
Volatility VIX up 20.72 to 22.58. Dollar index up 80.65 to 80.80 $ down vs Yen 116.41 to 115.945 & up vs Euro 1.367 to 1.363
This week bonds up. 30yr -6bps; 10yr -9bps, 5yr -17bps, 2yr -16bps, 6mo -10bps. 30 yr @ 4.83%; 10 yr @ 4.53; 5 yr @ 4.24; 2yr @ 4.13; 6 mo @ 4.22.
Resistance: DJIA 13450; SP500 1475; NAZ 2600; NDX 2000
Support: DJIA 13050; SP500 1455; NAZ 2530; NDX 1925
SP500 open 1457, up 24 to 1481, bleeding 8 at close 1473. Yesterday: "We sense another swing coming Sept 4 or 5."
It might be a downdraft, vacations over, kiddies are back to school, Happy Labor Day! Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
TUE, vortex, DJIA -280 on thin volume with horrific internals. All DOWN 2%. Bonds up BIG 10 yr yield -6 bps 4.52, $ up vs 1.3617E & down BIG vs 114.52Y, WTI crude down $71.73, gold down $673.5
WEN, mirror bounce, DJIA +247 on low volume with sparkling internals. All UP 2%. Bonds down 10 yr yield +3bps 4.55, $ down vs 1.3658E & up BIG vs 115.759Y, WTI crude up 2% $73.56, gold up $675.1
THU, split tape, DJIA -51 on low volume with poor internals. All DOWN cept NAZ, NDX, SOXX, XOI. Bonds up 10 yr yield -3bps 4.52, $ up vs 115.795y & vs 1.3622E, gold down $673.9, WTI crude down $73.36
FRI, updraft, DJIA +119 on tepid volume with pretty internals. All UP BIG. Bonds down 10 yr yield +1bps 4.53, $ up vs 115.945y & down vs 1.363E, gold up 1% $681.9 WTI crude up 1% $74.04
This week, DJIA -22, since 09/19/05 DJIA +2747.
CRB commodities up 305.64 to 308.76 XAU up 139.43 to 140.77 & gold up $677.5 to $681.90 XOI up 1352.55 to 1364.1 & WTI crude up $71.09 to $74.04
Volatility VIX up 20.72 to 22.58. Dollar index up 80.65 to 80.80 $ down vs Yen 116.41 to 115.945 & up vs Euro 1.367 to 1.363
This week bonds up. 30yr -6bps; 10yr -9bps, 5yr -17bps, 2yr -16bps, 6mo -10bps. 30 yr @ 4.83%; 10 yr @ 4.53; 5 yr @ 4.24; 2yr @ 4.13; 6 mo @ 4.22.
Resistance: DJIA 13450; SP500 1475; NAZ 2600; NDX 2000
Support: DJIA 13050; SP500 1455; NAZ 2530; NDX 1925
SP500 open 1457, up 24 to 1481, bleeding 8 at close 1473. Yesterday: "We sense another swing coming Sept 4 or 5."
It might be a downdraft, vacations over, kiddies are back to school, Happy Labor Day! Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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