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International Economics Review

Econoday Weekly International Report

US Economic Calendar for next week

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US Equity Markets Review

DJIA (interactive) chart

The Dow Jones Industrial Average (DJIA) closed the week at 13611.68, up from 13408.6. Very strong.

There is a lot of technical support in the 12750-12800 area (May-June-07 trading). There is even more support down at about the 12050 level of March-07.

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NASDAQ Composite (interactive) chart

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The Cara Global 100 Stockwatch

This data is supplied every day by the folks at KNOBIAS, Inc.

Here are the previous session’s Cara 100 gainers. Interactive charts of the top 12 Watch List gainers.

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Here are the previous session’s Cara 100 losers. Interactive charts of the top 12 Watch List losers.

Here are the Cara 100 stocks that hit 52-week intra-day highs or lows in the previous session.

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Here are the Cara 100 stocks that had extreme volume changes in the previous session. This is a good list to watch anytime markets start trending in the extreme. It pays to watch the price and volume extremes. That btw is called Money Flow.

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In Focus

Other Recent Wall Street upgrades

Other Recent Wall Street downgrades

There are various sources for up/down grades by broker-dealers. One is at Briefing.com. Traders ought to check everyday for ratings changes. That website is updated later in the morning.

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Here is the current Relative Strength Index (RSI) analysis of the Cara 100 company stocks

Here, from “Chris”, are the interactive charts of up to a dozen stocks with (unsmoothed) RSI-7 above 70 and below 30:

Using data from “Chris” – which he takes from BillCara2.com, which is not smoothed like David’s data, which he takes from Worden, the Cara 100 Company stocks that are below 30 on the Daily RSI-7 are as follows:

RSI > 70 (12 of 38)

RSI < 30 (1)

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Here, from “David” in upper New York State, are the stocks in the Cara 100 trading with the highest and lowest RSI-7 sorted by (i) daily and (ii) monthly values, for the previous session.

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International Equity Markets Review

Here is the latest session data for the Asia-Pacific stock exchanges.

All green arrows today!

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Here is the latest chart for the Japanese Nikkei 225 index.

The Nikkei Dow was up +067 pct today. Impressive!

The Mar-07 16600 support level is the critical one to watch this summer. It seems to be getting far off, which means the higher we go, the more we need to use protective stops.

You should know that I set a mental stop no lower than -8 pct from the cycle high. If violated, I’m out. I wouldn’t be around to see 16600 if that were to happen.

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Here is the latest chart for the Shanghai Composite index .

Shanghai continues to power up. Today it was up a further +2.7 pct.

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Here is the latest chart for the India BSE 30 index .

Three weeks ago I wrote, “The Indian economy is flourishing. The major IPO’s are being rolled out. At a close Friday of 14467, the Bombay 30 Sensex index is not far off the intra-day record 14723.9 (week of Feb 5-07). But the index has been struggling for five weeks to challenge that Feb high.” Last week, the BSE 30 closed at 14964. The intra-day high on Friday was 15007.22. NEW RECORD!

Today there was further strength.

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Here is the latest session data for the bourses of Europe.

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Here is the latest chart for the UK FTSE 100 index.

The Footsie had a very strong open to the week, then has sidetracked during this session to this point (9:05 am ET).

Two weeks ago I wrote, “The 6567.4 Friday close seems to be supported technically in the 6400-6500 April and June levels. However, the real underpinning of the FTSE appears to be the 6000 level of March-07.”

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Here is the latest session data for the exchanges of the Americas.

All markets were up on Friday.

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Here is the latest chart for the Brazilian Bovespa stock exchange in Sao Paulo.

Like equity markets around the globe, there was a cycle peak reached at the close on Friday at the Sao Paulo Bovespa. Wow!

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Here is the latest session data for the Toronto Stock Exchange composite index.

The Toronto Exchange closed at 14118.7, off the 52-week intra-day high of 14216.2 by about half of one pct.

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Gold & Precious Metals Review

Lift off! At 9:03am ET Monday, Spot Gold is 663.93.

It’s rather easy to do these things from Starfleet Presidio in Nassau.

“I like what I see.”

Here is the Recent Spot Gold chart.

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Silver is flying high as well. Yes, “I like what I see”.

I continue to believe and say, “I think this (recent pull-back) (was) another buying opportunity.”

Here is the Recent Spot Silver chart.

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This morning Platinum is following the Yellow Brick Road too. Ain’t life terrific. Ya mon.

Here is the Recent Spot Platinum chart.

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Palladium (at 8:50am ET) is at 365. Let the new ballgame begin.

As you know, I think “We need to see a 372 floor before PD will (really) lift”…. And “I continue to believe we will be looking at 380+ in the next week or two.”

Here is the Recent Spot Palladium chart.

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Community Chat

As further proof of concept that, yes, life is good, here are the photos I took yesterday (first four) and at dawn this morning (next four) from the balcony of my room at the Nassau Harbour Club. I look down into the water, I am so close.

This is Nassau harbour looking out at Paradise Island. In some shots you can see the PI bridge and some tall buildings of Atlantis. In others you can see the Kerzner development to the east called Ocean Club Residences.

There was a Saturday evening fireworks display that was awesome, eerie almost as enormous rockets would explode and the harbour world illuminate in a phosphorescent glow. Powerful stuff. I have seen a lot of fireworks displays in my life, but nothing quite like that.

Sitting at the pool (20 ft from the yachts) all afternoon Sat and yesterday for the full day, I was listening to Bocelli, Streisand, Groban (etc) on one mp3, dictating manuscript edit notes into another, Kalik(s) in hand, chilling out, diving into the pool every hour or so for refreshment, saying to myself ‘life doesn’t get better’.

Well, nothing’s perfect: the Internet doesn’t work here, and (damn) I probably have to move at the end of the month because Ritz-Carlton are taking control – to use this small 50-room hotel as an operations center for their planned development at Rose Island, four miles away. The sign of the Nassau Harbour Club has already been taken down. Oh well, we’ll see what can be done.

I’m going to recharge my batteries for a couple days, get into the rhythm of the place so to speak, which means I may not come back on line for a couple days.

If the truth be known, I prefer poolside. If the wireless Internet would work, however, I’d be back on line sooner than later.

Btw, as I reviewed the manuscript yesterday, it was obvious to me that I wrote the book for all people, young and old, well educated or on the way, trading amateurs or professionals, in all countries.

The book is apolitical, but, talking to the boat owners and captains here, almost all of them Americans, I can tell you they are dismayed over the conduct of their leaders. Enough said.

Time to get back to work. (LOL)

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