Market Soapbox 06/25/08
WEN, sideways, DJIA +4 on average volume with nice internals. All UP cept XAU.
Bonds down 10 yr yield -1ps 4.11. $ down vs 1.5683€ & vs 107.733y, WTI -1.8% $134.51, gold -1% $882.3; TED Spread up +3bps 1.01%
SP500 open 1314, rise to 1335, fade to close 1322. NDX 1903 gap up to open 1911, rise to 1951, fade to close 1934.
MON: Flight to safety? PG 62.42, a new 11 month low.
TUES: Will SP500 1300 & NDX 1900 support kick in? For the moment... bouncing off yesterday's lows: NDX 1888, SP500 1304.
Despite tech head fake in progress SOXX +2.5%; NDX +1.4%, we are just one straw from breaking the camels back and heading for March lows.
FOMC held at 2% with optimistic statement spin. Where are we going? HGX, XLF, IAT charts speak volumes.
If you didn't get out of this suckers rally yet, double check your parachute and floatation device, we sense something wicked this way comes.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr yield -1ps 4.11. $ down vs 1.5683€ & vs 107.733y, WTI -1.8% $134.51, gold -1% $882.3; TED Spread up +3bps 1.01%
SP500 open 1314, rise to 1335, fade to close 1322. NDX 1903 gap up to open 1911, rise to 1951, fade to close 1934.
MON: Flight to safety? PG 62.42, a new 11 month low.
TUES: Will SP500 1300 & NDX 1900 support kick in? For the moment... bouncing off yesterday's lows: NDX 1888, SP500 1304.
Despite tech head fake in progress SOXX +2.5%; NDX +1.4%, we are just one straw from breaking the camels back and heading for March lows.
FOMC held at 2% with optimistic statement spin. Where are we going? HGX, XLF, IAT charts speak volumes.
If you didn't get out of this suckers rally yet, double check your parachute and floatation device, we sense something wicked this way comes.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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