Market Soapbox 03/27/08
THU, triple digit followthrough, DJIA -120 on lower volume with ugly internals. All DOWN cept DJUA.
Bonds down 10 yr yield +5bps 3.52. $ up vs 1.5772€ & vs 99.74y, WTI +1% $107.22, gold down $954 TED spread down -1bps 1.40%.
SP500 open 1340, pop to 1345, plunge to close 1325. NDX 1817, gap down open 1807, fall to close 1777.
MON: Hitting resistance at 1350, perhaps a dip then surge to test major resistance at 1400. 1350 & 1800 are magnets, at the moment.
The S&P 500 is up 0.2% this month. If it holds onto a gain, it will mark the first positive monthly finish since October.
If the market ends the month in the red, the market will have posted a loss for five straight consecutive months, the first time since 1990.
The 2 month headfake in retail (RTH); transports (DJTA); builders (HGX) and regional banks (KRE) could be over.
If so, we are primed for a roll down a BIG step. However, there may be one more pop to the upside in the tank...
on this monthly & quarterly ending sucker, er, I mean sector rotation. Watch em closely for clues.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr yield +5bps 3.52. $ up vs 1.5772€ & vs 99.74y, WTI +1% $107.22, gold down $954 TED spread down -1bps 1.40%.
SP500 open 1340, pop to 1345, plunge to close 1325. NDX 1817, gap down open 1807, fall to close 1777.
MON: Hitting resistance at 1350, perhaps a dip then surge to test major resistance at 1400. 1350 & 1800 are magnets, at the moment.
The S&P 500 is up 0.2% this month. If it holds onto a gain, it will mark the first positive monthly finish since October.
If the market ends the month in the red, the market will have posted a loss for five straight consecutive months, the first time since 1990.
The 2 month headfake in retail (RTH); transports (DJTA); builders (HGX) and regional banks (KRE) could be over.
If so, we are primed for a roll down a BIG step. However, there may be one more pop to the upside in the tank...
on this monthly & quarterly ending sucker, er, I mean sector rotation. Watch em closely for clues.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Comments