Market Soapbox 02/12/08
TUE, triple digit split tape, DJIA +133 on higher volume with OK internals. All UP cept XAU, SOXX, NAZ, NDX, DJTA.
Bonds down 10 yr yield +4bps 3.65, $ down vs 1.4584E & up vs 107.275y, WTI -1% $92.49, gold -2% $907.4. TED spread down -1bps 0.78%.
SP500 open 1339 rise to 1362, plunge to 1339, close 1348. NDX gap up 1793 to 1802, rise to 1812, plunge to 1769, close 1780.
WEN: "Violation of SP500 1325 on a closing basis means redux of 1270 low." SP500 support holding at 1325, NDX at 1775.
Divergence, a triple digit DJIA bounce with tech off 1%??? Something smells rotten in Denmark.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr yield +4bps 3.65, $ down vs 1.4584E & up vs 107.275y, WTI -1% $92.49, gold -2% $907.4. TED spread down -1bps 0.78%.
SP500 open 1339 rise to 1362, plunge to 1339, close 1348. NDX gap up 1793 to 1802, rise to 1812, plunge to 1769, close 1780.
WEN: "Violation of SP500 1325 on a closing basis means redux of 1270 low." SP500 support holding at 1325, NDX at 1775.
Divergence, a triple digit DJIA bounce with tech off 1%??? Something smells rotten in Denmark.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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