MARKET INDEX LABORATORY, Tuesday, July 6, 1999
INDEX Pr Cls Open High Low Close Change %Change 12MO HI 12MO LO
THE MAJORS
DOW 11,139 11,137 11,237 11,104 11,135 - 4 -.04% 11,139 7,539
SPX 1,391 1,391 1,405 1,387 1,388 - 3 -0.2% 1,391 957
OEX 716 716 725 713.5 714 - 2 -0.3% 716 471
RUT 456.5 456.5 459.3 456.5 456.5 + 0 + 0 % 464 310
TRAN 3,516 3,515 3,515 3,473 3,478 - 38 -1.1% 3,784 2,345
UTIL 320.5 320.5 321.8 318.5 321.5 + 1 +0.3% 334 272
VIX 18.85 20.54 20.69 19.19 20.27 +1.42 +7.5% 48.56 16.88
TECHNOLOGY/SEMICONDUCTOR/SOFTWARE
COMP 2,741 2,760 2,787 2,734 2,737 - 4 -0.2% 2,741 1,419
NDX 2,348 2,348 2,383 2,325 2,331 - 17 -0.7% 2,348 1,129
MSH 1,182 1,182 1,209 1,178.5 1,181 - 1 -.06% 1,182 480
PSE 613 613 622.7 610.8 612 - 1 -0.2% 612.8 278
SOX 493 493 505 493 496 + 3 +0.6% 495.9** 190
CWX 797 797 809 785 785.5 -11.5 -1.4% 797 399
INTERNET/NETWORKING
DOT 664 669.7 689 664 665 + 1 +0.1% 790 144
IIX 321.5 321.5 335 321.5 323 + 1.5 +0.5% 358 97
GIN 511.5 511.5 548 511.5 523 +11.5 +2.3% 667 114
NWX 596 596 605.7 592 593 - 3 -0.5% 596 232
BANKS/BROKERAGE/RETAIL/CONSUMER/DRUGS/CYCLICAL
BKX 909 905 918.6 903 910.5 + 1.5 +0.2% 932 592
XBD 438.5 438.5 447 435.7 443.5 + 5 +1.1% 530 149
RLX 943 943 962.5 942 944 + 1 +0.1% 966 588
CMR 562.5 562.5 562.5 556.4 557.5 - 5 -0.9% 574 444
DRG 380 380 381 376 376 - 4 - 1 % 425 304
CYC 602 602 604.4 597.3 597.5 - 4.5 -0.7% 619 392
OIL/GOLD-SILVER/COMMODITY
XOI 517.5 517.3 530.5 517.3 528 +10.5 +2.1% 527.9** 377
OSX 77 78.5 79.5 78 78 + 1 + 1 % 92 47
XAU 67 65.9 65.9 63 63 - 4 -6.1% 87 49
CRX 216.5 216.5 217 214.8 215 - 1.5 -0.7% 229 149
30 YR. BOND YIELD
TYX 6.001% - 6.073% 6.030% 6.043%
MARKET INDEX LABORATORY, July 6, 1999 (PAGE 2)
MISCELLANEOUS INDICES
AIRLINES/TOBACCO/CHEMICAL/INSURANCE/YEAR 2000
XAL 171 171 171 169.7 170 - 1 -0.4% 204 116
TOB 295 295 295 288.8 289 - 6 -1.9% 326 236
CEX 520 520 521.5 514.3 518.5 - 1.5 -0.3% 547 402
IUX 658 658 662 653.5 654 - 4 -0.5% 710 471
YTK 213 213 214 212 214 + 1 +0.6% 237 144
***PLEASE NOTE***Today the XOI took out new 52 week highs
where it just recently bounced off 500 supports and now the ways
of the world manifest itself again as cartel and oil prices stick.
Tears For Fears as "Everybody Wants to Rule the World" and his
own serfdom. XOI plays and extension plays include HAL, SLB, my
favorite BHI, and NBR.
Market can also be seen thru the eyes of RLX as it was up nearly
20 smacks and within few points of all time high only to give it
up into the bell. Another consolidation day ahead in the works as
Bond Boys still uneasy and now must await PPI/CPI for another week.
You can not have high bond yields and new market highs co-exist one
will give way this is assured. Hand of heavens alone will reveal the
truth if equities or bonds at these levels is true mirage. Has Mr. G
dealt the bond boys a pair of "jokers"? Or is something else lurking?
XAU falls back to its 20 year ways as now we break supports and get
mother of all wash-outs before the leg-up begins. Not yet, stay
tuned.
Best, J.T.
