Market Soapbox 01/07/08
MON, split tape see saw, DJIA +27 on average volume with ugly internals. All DOWN cept DJUA, DJTA, RUT, SP500.
Bonds up 10 yr yield -4bps 3.83, $ up vs 1.4686E & vs 109.065y, WTI down $95.28, gold down $860. TED spread down -13bps 1.30%.
Fri: "we see NDX 1900-1910 and SP500 1370 in clear sight." Last minute rally pulled market out of red.
NDX gap up 1963 to 1971, rise to 1975, fall to 1929, bounce to close 1957. SP500 gap up 1411 to 1414, rise to 1423, fall to 1403, bounce to close 1416.
SP500 sitting near 450DMA 1410. NDX on 250DMA 1950. Q4 reporting kicks off with Alcoa, the financials should kick this market down a few more notches.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up 10 yr yield -4bps 3.83, $ up vs 1.4686E & vs 109.065y, WTI down $95.28, gold down $860. TED spread down -13bps 1.30%.
Fri: "we see NDX 1900-1910 and SP500 1370 in clear sight." Last minute rally pulled market out of red.
NDX gap up 1963 to 1971, rise to 1975, fall to 1929, bounce to close 1957. SP500 gap up 1411 to 1414, rise to 1423, fall to 1403, bounce to close 1416.
SP500 sitting near 450DMA 1410. NDX on 250DMA 1950. Q4 reporting kicks off with Alcoa, the financials should kick this market down a few more notches.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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