Market Soapbox 06/24/08
TUE, downdrift, DJIA -35 on average volume with lousy internals. All DOWN cept SOXX.
Bonds up 10 yr yield -7bps 4.1, $ down vs 1.5568€ & vs 107.78y, WTI up $137.06, gold up $891.6, TED spread flat 0.98%.
SP500 open 1318, dip to 1304, rise to 1326, fade to close 1314. NDX 1913 gap down to open 1906, drop to 1888, rise to 1926, fade to close 1903.
Flight to safety? PG plunged under 63 today, DJIA plunged under 11.750K; NDX 1888, SP500 1304 hitting new lows.
Will SP500 1300 & NDX 1900 support kick in? We are just one straw from breaking the camels back and heading for March lows.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up 10 yr yield -7bps 4.1, $ down vs 1.5568€ & vs 107.78y, WTI up $137.06, gold up $891.6, TED spread flat 0.98%.
SP500 open 1318, dip to 1304, rise to 1326, fade to close 1314. NDX 1913 gap down to open 1906, drop to 1888, rise to 1926, fade to close 1903.
Flight to safety? PG plunged under 63 today, DJIA plunged under 11.750K; NDX 1888, SP500 1304 hitting new lows.
Will SP500 1300 & NDX 1900 support kick in? We are just one straw from breaking the camels back and heading for March lows.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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