Market Soapbox 12/20/07
THU, more chop, DJIA +38 on lower volume with midlin internals. All UP cept DJTA, DJUA.
Bonds down 10 yr yield +1bps 4.04, $ up vs 1.4324E & down vs 113.085y, WTI down $91.18, gold down $803.2
NDX gap up 2029 to 2056, fall to 2040, rally to close 2070. SP500 open 1456, fall to 1447, rise to close 1460.
Tues: "Trying to find support at SP500 1460 (300DMA) & NDX 2030 (150DMA)." NDX sideways chop since 11/12.
Today tech raising the bar above 100 DMA 2050, with SP500 inching up to support. Is it a rally or a dead cat bounce?
Clues: watch test of resistance at 2100-2120 or support at 2020-2000.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down 10 yr yield +1bps 4.04, $ up vs 1.4324E & down vs 113.085y, WTI down $91.18, gold down $803.2
NDX gap up 2029 to 2056, fall to 2040, rally to close 2070. SP500 open 1456, fall to 1447, rise to close 1460.
Tues: "Trying to find support at SP500 1460 (300DMA) & NDX 2030 (150DMA)." NDX sideways chop since 11/12.
Today tech raising the bar above 100 DMA 2050, with SP500 inching up to support. Is it a rally or a dead cat bounce?
Clues: watch test of resistance at 2100-2120 or support at 2020-2000.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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