Market Soapbox 04/21/08
MON, split tape, DJIA -24 on thin volume with poor internals. All UP cept DJTA, DJUA, SP500, XAU, RUT.
Bonds down 10 yr yield +1bps 3.72, $ down vs 1.5923€ & vs 103.19y, WTI +1% $117.56, gold up $917.6, TED spread up +6bps 1.62%
SP500 1390, gap down open 1387, fall to 1379, rise to close 1388. NDX 1900 gap down open 1892, drop to 1890, rise to close 1913.
SAT: We are sitting at the level SP500 1390 & NDX 1900. Is the market is poised to break through and test the next major resistance lines SP500 1425 & 1455 & NDX 1950 & 2020?
Again, the market ignores bad news and we smell a suckers rally. I sense a downdraft coming Thurs or Fri at perhaps NDX 1950.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr yield +1bps 3.72, $ down vs 1.5923€ & vs 103.19y, WTI +1% $117.56, gold up $917.6, TED spread up +6bps 1.62%
SP500 1390, gap down open 1387, fall to 1379, rise to close 1388. NDX 1900 gap down open 1892, drop to 1890, rise to close 1913.
SAT: We are sitting at the level SP500 1390 & NDX 1900. Is the market is poised to break through and test the next major resistance lines SP500 1425 & 1455 & NDX 1950 & 2020?
Again, the market ignores bad news and we smell a suckers rally. I sense a downdraft coming Thurs or Fri at perhaps NDX 1950.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Comments