On Monday, the DJIA suffered its fourth 200+ point decline in November. The Dow 30 (-218.35), S&P 500 (-25.47), and Nasdaq Composite (-43.86) all got caught up in the plight of the Big Banks.

Concerns about Citigroup (C) after Goldman Sachs cut their rating from Neutral to Sell, citing Citi's exposure to CDO's, and the general weakness in the economy expressed by bankers and central bankers, weighed heavily. In addition, the NAHB Housing Market Index remained unchanged at 19, indicating the house builders believe that market conditions have not improved.

On the earning’s front, Lowe's (LOW) reported a -10 pct decrease in fiscal 3Q net earnings to $643 million vs $716 million a year ago, due to continued housing industry troubles. Then, after the bell, Hewlett-Packard (HPQ) reported 4Q earnings of $2.2 billion vs $1.7 billion a year ago, setting the stage for a market rally attempt today.

On the deal’s front, Celgene will acquire Pharmion for $2.9 billion in cash and stock.

Crude Oil prices lifted after OPEC decided to keep production unchanged in a major meeting over the weekend. Venezuela and Iran played their usual politics, trying to incite the market.

US Treasury yields softened with the benchmark 10-year closing the session at 4.081 pct.

Gold and silver futures sunk.

Asia-Pacific markets were mixed before European shares stumbled; the DAX dropped -1.32 pct, the FTSE 100 -2.71 pct, and the CAC 40 -1.65 pct. That was yesterday.

This morning the Asian markets were up in China, Hong Kong and Tokyo, and Europe is strong across the region. December DJIA futures are presently (7:50am ET) up +68 at 13061, although they were stronger earlier.

This morning, the 10-year Treasury yield is up a bit, and the $USD fell during the night but may rebound now. December Gold and Silver are up +11.2 and +0.28 respectively, but show no signs of breaking out above 800 and 15, for now.

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Comments & Outlook

The Daily RSI-7 Over 70:Under 30 number for the Cara 100 reached 1:31 during yesterday’s market purge. That sentiment is extremely bearish and represents an over-sold condition, ripe for an attempt by the Bulls to rally the market this morning.

But the end of the day, particularly the hours following the close in Europe, is the most important.

The US economics data is worsening by the day. Today at 8:30am ET (1330 GMT), the Housing Starts data will be released. A bigger than anticipated drop will serve to crunch the US Retailers even more than yesterday.

On the other hand, should that number be better than expected, look for a rally attempt in the over-sold retailers. In any case, those call options will pop on the short-covering to follow this morning should that housing data be positive. You will even have a chance to buy the stocks in the pre-market and, in some cases, in London.

The Econoday report on Housing Starts will be updated and released later in the morning. The Econoday analyst explains the impact on consumer incomes and spending when the housing sector either grows or sags.

You need to be watchful of such data (perhaps you keep a monthly checklist?). Maybe we ought to set up a checklist here on the website to help you organize your daily set-ups. For example, if the housing starts are impressive this morning (anything can happen, right?), and you are looking for an opportunity to sell a housing stock or a retailer into market strength, then you will have the opportunity.

Yesterday I talked about the need to look forward, to be that quarterback leading the receiver downfield. Now, I’m talking about the implementation.

Very few people teach this stuff. Either they don’t know, they haven’t thought about it, they can’t articulate it or they don’t want you to know. But you have to learn it to be a successful trader.

The gold market in the 700’s is giving you a ‘Buy of the Generation’ opportunity. If you are interested in preservation of assets over 5, 10, 20 years, then the price today is a good one. But if you want to trade for another “Buffett-type” gain, then you will watch the RSI and MACD data. That Buy Alert is soon to come. I believe it will come in the low to mid 700’s.

I’ll be watching.

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Links & Charts

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International Economics Review

US Economic Calendar.

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Cara 100 Daily RSI-7 Charts

RSI > 70 (1)

RSI < 30 (12 of 31)

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International Equity Markets Review

Europe

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

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Here is the latest session data for the London stock exchange FTSE.

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Here is the latest session data for the German DAX.

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Here is the latest session data for the French CAC 40.

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Here is the latest session data for the Milan Italy stock exchange MIBTEL.

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Here is the latest session data for the Swiss market index.

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Asia-Pacific

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

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

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Here is the latest chart for the Singapore index .

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Here is the latest chart for the Shanghai Composite index .

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Here is the latest chart for the Hong Kong Hang Seng index .

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

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Here is the latest chart for the Australian All Ordinaries index .

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US Equity Markets Review

DJIA (interactive) chart

NASDAQ Composite (interactive) chart

Table: Dow 30 List

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
WMT	45.47	-0.87	-1.88%	4.96%	3.27%	0.49%	-4.37%	4.55%	-3.81%	-4.27%
KO	62.30	-0.32	-0.51%	4.08%	3.25%	5.15%	28.24%	14.42%	18.37%	31.82%
MRK	58.25	-0.13	-0.22%	4.04%	4.15%	6.61%	32.33%	17.39%	9.39%	29.27%
HPQ	49.44	-1.31	-2.58%	4.00%	-5.90%	-3.61%	18.79%	4.86%	10.90%	24.31%
MMM	81.70	0.13	0.16%	3.13%	-3.94%	-5.31%	4.40%	-6.98%	-5.98%	0.37%
PG	72.82	-0.37	-0.51%	2.90%	3.76%	2.48%	12.83%	11.43%	14.71%	14.03%
AXP	57.37	-1.30	-2.22%	2.28%	-1.38%	0.88%	-4.95%	-2.58%	-10.30%	-4.13%
JNJ	67.59	-0.16	-0.24%	1.93%	4.81%	5.05%	1.79%	8.98%	6.58%	0.52%
MO	73.84	0.66	0.90%	1.89%	2.05%	3.32%	13.74%	9.25%	5.56%	15.74%
MSFT	33.96	-0.13	-0.38%	1.74%	-7.54%	11.31%	13.73%	20.21%	10.15%	15.51%
IBM	102.22	-2.57	-2.45%	0.76%	-9.86%	-9.84%	5.09%	-7.83%	-5.34%	8.96%
VZ	43.05	-0.64	-1.46%	0.58%	-1.76%	-2.89%	13.83%	5.51%	1.08%	19.45%
MCD	58.60	0.47	0.81%	0.10%	-1.79%	4.61%	33.58%	23.19%	11.98%	40.12%
GE	38.16	-0.49	-1.27%	-0.24%	-5.07%	-5.00%	0.50%	-0.75%	3.25%	5.27%
UTX	73.60	-0.70	-0.94%	-0.45%	-3.30%	-2.90%	17.18%	-0.30%	6.37%	11.36%
INTC	25.17	-0.34	-1.33%	-0.47%	-6.22%	-5.52%	23.69%	6.20%	10.88%	13.89%
XOM	84.11	-0.99	-1.16%	-0.51%	-4.05%	-7.48%	13.49%	-0.04%	1.02%	15.09%
HD	28.19	-0.88	-3.03%	-0.95%	-5.40%	-8.71%	-31.36%	-15.37%	-27.49%	-26.36%
PFE	22.71	-0.68	-2.91%	-1.35%	-4.06%	-5.45%	-13.62%	-5.14%	-17.24%	-16.54%
CAT	68.20	-1.24	-1.79%	-2.01%	-7.21%	-7.21%	11.51%	-6.11%	-8.79%	11.91%
AA	35.07	-1.24	-3.42%	-2.23%	-7.47%	-7.05%	19.57%	5.35%	-11.73%	24.05%
T	37.75	-1.80	-4.55%	-2.33%	-5.72%	-8.31%	8.01%	-3.33%	-8.15%	13.70%
DIS	31.25	-1.28	-3.93%	-2.40%	-7.76%	-9.89%	-8.63%	-4.38%	-13.24%	-5.13%
JPM	41.37	-1.72	-3.99%	-2.41%	-3.27%	-8.82%	-13.94%	-12.00%	-21.26%	-13.20%
AIG	55.35	-1.09	-1.93%	-2.52%	-7.02%	-12.89%	-23.28%	-16.09%	-23.36%	-23.18%
HON	54.76	-1.12	-2.00%	-4.15%	-8.60%	-5.81%	21.42%	0.55%	-6.71%	27.53%
DD	44.83	-0.48	-1.06%	-4.23%	-6.00%	-3.74%	-8.58%	-5.24%	-14.41%	-5.14%
C	32.00	-2.00	-5.88%	-4.68%	-10.86%	-24.90%	-42.08%	-34.44%	-41.82%	-37.01%
BA	88.27	-1.72	-1.91%	-4.94%	-9.90%	-7.02%	-1.01%	-7.98%	-8.65%	-1.40%
GM	26.79	-2.48	-8.47%	-12.99%	-25.58%	-28.83%	-9.03%	-12.31%	-14.82%	-24.26%

You can do this table yourself by entering the following string into the Summaries window at www.billcara2.com and then clicking on the link for Performance.

AA AIG AXP BA C CAT DD DIS GE GM HD HON HPQ IBM INTC JNJ JPM KO MCD MMM MO MRK MSFT PFE PG T UTX VZ WMT XOM

Here are the links to interactive Dow charts from Billcara2.com that I broke into groups of ten, which you can add technical indicators for as well. (list one) (list two) (list three)

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The Americas

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

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

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

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Sector ETF Summary for the US equity market

The tables I show in this section 2007_11_19 are for ten (GICS) Sector Index Funds (ETF’s) only, but they cover the full spectrum of the US equity market.

Table 1: Cara ETF List is sorted by price performance Week over Week (W/W), i.e. 1W%N.

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
XLP	28.37	-0.20	-0.70%	1.68%	1.07%	1.65%	7.95%	6.45%	2.46%	9.58%
XLU	41.80	0.12	0.29%	1.46%	-1.37%	4.45%	13.53%	8.21%	-2.40%	15.98%
XLE	71.45	-0.95	-1.31%	0.85%	-5.04%	-2.86%	26.28%	5.85%	5.34%	25.13%
IYH	70.28	-0.74	-1.04%	0.50%	-0.41%	0.01%	5.75%	4.43%	-2.58%	6.60%
IYZ	28.88	-0.81	-2.73%	-0.38%	-7.55%	-11.25%	-2.63%	-9.98%	-13.53%	1.65%
XLI	38.25	-0.50	-1.29%	-0.65%	-4.49%	-4.49%	8.57%	0.66%	0.00%	8.14%
SMH	32.22	-0.57	-1.74%	-1.23%	-5.37%	-10.50%	-4.02%	-11.85%	-13.27%	-8.67%
XLF	29.69	-0.71	-2.34%	-1.85%	-5.05%	-10.03%	-19.58%	-13.94%	-21.50%	-17.53%
XLB	39.12	-1.19	-2.95%	-1.88%	-7.34%	-5.53%	13.03%	6.02%	-2.88%	15.64%
XLY	33.26	-0.82	-2.41%	-2.06%	-5.57%	-8.37%	-13.66%	-6.44%	-16.26%	-12.73%

You can do this table yourself by entering the following string into the Summary window at Billcara2.com and then clicking on the link for Performance. XLE XLB XLI XLY XLP IYH XLF SMH IYZ XLU . You can also add more ETF’s – up to 30 in total.

For a list of components to any ETF, go to the AMEX.com web site, and click on ETF’s.

10 (energy: XLE)

15 (basic materials: XLB)

20 (industrial: XLI)

25 (consumer discretionary: XLY)

30 (consumer staples: XLP)

35 (healthcare: IYH)

40 (financial: XLF)

45 (technology, semiconductor: SMH)

50 (telecom: IYZ)

55 (utilities: XLU)

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International Equity Market USD-denominated ETF Review

Table 13: International equities via the USD-denominated ETF perspective

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
EWZ	80.20	-3.98	-4.73%	5.46%	-1.53%	6.08%	71.73%	51.09%	37.28%	85.73%
IFN	56.84	-2.74	-4.60%	4.03%	-6.50%	5.65%	25.36%	26.59%	33.87%	17.61%
QQQQ	49.70	-0.58	-1.15%	1.99%	-8.08%	-6.35%	14.94%	7.32%	6.40%	12.19%
SPY	143.76	-2.03	-1.39%	0.04%	-4.19%	-4.50%	1.69%	-0.66%	-5.81%	2.38%
FXI	169.55	-8.82	-4.94%	0.03%	-10.67%	-15.86%	45.66%	36.29%	47.64%	81.38%
TRF	66.40	-2.10	-3.07%	-0.27%	-6.21%	-2.74%	-25.01%	6.53%	-2.40%	-10.40%
EWJ	13.23	-0.26	-1.93%	-1.34%	-4.82%	-5.30%	-6.83%	-2.72%	-7.16%	-1.34%
IEV	115.30	-3.30	-2.78%	-1.45%	-4.63%	-2.70%	9.19%	6.32%	-1.66%	12.56%
EWU	24.29	-0.91	-3.61%	-2.76%	-7.15%	-5.93%	3.14%	3.36%	-4.71%	4.97%
EWC	31.52	-0.81	-2.51%	-3.52%	-11.58%	-6.33%	27.61%	10.91%	6.16%	25.88%

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Japanese equity market ETF: EWJ

Here is the Japanese (EWJ) equity market ETF Daily data charts:

Interactive EWJ Daily data:

Interactive EWJ Weekly data:

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U.K. equity market ETF

Here is the United Kingdom (EWU) equity market ETF Daily data charts:

Interactive EWU Daily data:

EWU Daily data:

Interactive EWU Weekly data:

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Canada’s equity market

Here is the Canadian (EWC) equity market ETF Daily data charts:

Interactive EWC Daily data:

Interactive EWC Weekly data:

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Bonds & Yields Review

Table 10: US Treasury Yields

US Treasury Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
3 Month	3.23	3.29	3.13	3.63
6 Month	3.33	3.42	3.49	3.89
2 Year	3.16	3.33	3.40	3.77
3 Year	3.06	3.24	3.36	3.78
5 Year	3.55	3.69	3.75	4.02
10 Year	4.07	4.16	4.22	4.39
30 Year	4.48	4.53	4.60	4.68

Municipal Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	3.27	3.30	3.32	3.34
2yr AAA	3.31	3.29	3.31	3.37
2yr A	3.43	3.42	3.42	3.47
5yr AAA	3.41	3.43	3.43	3.46
5yr AA	3.40	3.46	3.39	3.43
5yr A	3.51	3.53	3.53	3.71
10yr AAA	3.83	3.82	3.85	3.76
10yr AA	3.74	3.77	3.89	3.67
10yr A	4.06	4.05	4.08	3.89
20yr AAA	4.45	4.48	4.47	4.40
20yr AA	4.33	4.67	4.67	4.60
20yr A	5.13	5.13	5.07	4.41

Corporate Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	4.19	4.38	4.33	4.52
2yr A	4.43	4.59	4.49	4.68
5yr AAA	4.60	4.69	4.57	4.79
5yr AA	4.86	4.99	4.99	4.95
5yr A	4.69	4.83	4.90	4.98
10yr AAA	5.12	5.21	5.27	5.30
10yr AA	5.57	5.66	5.73	5.59
10yr A	5.64	5.68	5.79	5.59
20yr AAA	5.56	5.58	5.63	5.68
20yr AA	5.74	5.79	5.89	5.87
20yr A	6.02	6.04	6.05	6.01

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Here is the $USB 30-year Treasury Bond chart.

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US Bond Funds -- Interactive Daily Data Charts

SHY Daily data series chart:

IEF Daily data series chart:

TLT Daily data series chart:

AGG Daily data series chart:

LQD Daily data series chart:

TIP Daily data series chart:

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Table 11: Interest-sensitive securities

Sorted by 1-Week Price Performance.

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
TLT	93.01	0.60	0.65%	1.47%	2.21%	2.81%	4.42%	7.17%	6.99%	3.40%
IEF	86.72	0.62	0.72%	0.84%	2.04%	2.53%	4.89%	4.44%	5.52%	4.33%
AGG	101.21	0.22	0.22%	0.55%	0.75%	0.51%	1.30%	2.35%	1.77%	0.89%
SHY	82.24	0.25	0.30%	0.38%	1.03%	1.28%	2.75%	1.62%	2.75%	2.61%
TIP	105.98	0.86	0.82%	0.27%	1.85%	3.17%	6.80%	5.46%	6.33%	6.20%
FRE	37.50	-3.22	-7.91%	-6.25%	-20.79%	-29.00%	-44.76%	-41.13%	-44.52%	-44.85%
CFC	10.57	-1.50	-12.43%	-19.86%	-28.48%	-32.59%	-74.90%	-50.68%	-74.38%	-73.75%
FNM	37.58	-3.11	-7.64%	-20.14%	-27.73%	-35.37%	-37.22%	-44.12%	-40.52%	-35.36%

Consumer Finance -USA -- Interactive Daily Data Charts

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Commodities Review

$CRB Index

Open Futures Contracts

Interactive Chart of Daily CRB Commodities Index:

Interactive Chart of Weekly CRB Commodities Index:

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Oil Review

Here is the e-miNY Jan-08 Crude Oil chart.

Interactive Chart of Daily Crude Oil:

Interactive Chart of Weekly Crude Oil:

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Gold & Precious Metals Review

Spot gold chart for the week

Interactive Chart of Daily Gold EOD Continuous Contract Index:

Interactive Chart of Weekly Gold EOD Continuous Contract Index:

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Spot silver chart for the week

Interactive daily data

Interactive Chart of Daily Silver EOD Continuous Contract Index:

Interactive chart of the Silver Bullion index.

Interactive Chart of Weekly Silver EOD Continuous Contract Index:

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Spot platinum chart for the past three days

Interactive Chart of Daily Platinum EOD Continuous Contract Index:

Interactive Chart of Weekly Platinum EOD Continuous Contract Index:

Interactive chart of the Platinum metal index.

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Spot palladium chart for the week

Interactive Chart of Daily Palladium EOD Continuous Contract Index:

Interactive Chart of Weekly Palladium EOD Continuous Contract Index:

Interactive chart of the Palladium metal index.

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Interactive Chart of Weekly Copper EOD Continuous Contract Index:

Interactive Chart of Daily Copper EOD Continuous Contract Index:

Interactive chart of the Copper metal index.

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Table 12: Senior gold equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
AEM	48.70	-2.20	-4.32%	0.81%	-13.33%	-7.57%	25.13%	26.96%	38.98%	29.56%
MDG	35.14	-2.46	-6.54%	0.40%	-13.26%	-4.74%	33.66%	41.81%	38.78%	31.07%
AUY	12.59	-0.49	-3.75%	-0.24%	-14.87%	-6.11%	2.11%	30.74%	-8.44%	19.34%
NEM	48.57	-1.12	-2.25%	-2.59%	-7.20%	8.01%	9.89%	21.76%	23.93%	9.89%
KGC	16.90	-0.54	-3.10%	-2.87%	-16.75%	1.32%	47.99%	49.43%	29.20%	47.34%
GFI	17.09	-0.65	-3.66%	-3.66%	-1.84%	-2.62%	-6.76%	18.68%	-1.38%	2.15%
BVN	52.39	-3.61	-6.45%	-5.12%	-9.89%	2.69%	89.75%	46.18%	58.33%	93.75%
GG	30.63	-1.58	-4.91%	-5.32%	-14.35%	-0.91%	12.03%	41.35%	28.91%	16.64%
ABX	38.92	-2.10	-5.12%	-7.11%	-15.46%	-3.50%	30.47%	27.52%	30.47%	36.75%

To watch the moves in precious metal miners, you will have to monitor the individual stock charts, preferably in real-time, as follows:

NEM ABX AU GFI GG HMY AUY KGC BVN
Interactive Daily data
Interactive Weekly data

MDG LIHRY AEM BGO IAG EGO RGLD GOLD CDE GRS
Interactive Daily data
Interactive Weekly data

CBJ SSRI SIL NG KRY UXG GRZ TSE_HRG TSE_GUY TSE_AGI
Interactive Daily data
Interactive Weekly data

NXG GSS MNG DROOY MFN RNO RANGY MRB CLG
Interactive Daily data
Interactive Weekly data

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Here are the key Silver miners and the SLV ETF:

SLV SIL CDE HL PAAS SSRI SLW MGN

Interactive Daily data
Interactive Weekly data

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Here are the Weekly and Daily Data charts of the indexes:

Interactive Chart of Daily U.S. Goldminers Index:

Weekly U.S. Goldminers Index:

Interactive Chart of Weekly U.S. Goldminers Index:

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The U.S. goldminer share trust ETF trades under the ticker symbol GDX.

Here are the U.S. Goldminer ETF (GDX) index Weekly and Daily data charts:

GDX Daily data:

GDX Weekly data:

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The Toronto Exchange-listed goldminer iUnits S&P/TSX Capped Gold Index ETF trades under the ticker symbol TSE:XGD. Yes, just like GDX on the AMEX, you can trade XGD on Toronto.

Here are the Weekly and Daily data charts for the TSX Goldshares (XGD) index:

Interactive Chart of XGD Daily data:

Interactive Chart of XGD Weekly data:

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Forex Review

Here is the chart of the week’s trading in the $USD.

Interactive Chart of Daily U.S. Dollar Index:

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Interactive Chart of Daily Euro Dollar Index, priced in USD:

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Daily British Pound Index:

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Daily Japanese Yen Index:

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Daily Canadian Dollar Index:

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Wrap up:

The economic data has been very weak in recent days, and now there are bankers and central bankers admitting it. Finally.

What typically happens during this sentiment swing phase is what I call the industry mea culpa period where companies clean out the baggage, and increase their loan loss reserves, which is a direct hit to earnings.

I call this phenomenon a matter of pure intellectual dishonesty because these corporate leaders are seeking the protection of the group, like “we are all in this together” kind of thing. Traders need better. We don’t need for corporations to schedule the release of dour information on otherwise positive days or when they all decide to do it at once. We need it when it happens.

In any event, this is the Club pulling together to serve and protect their own. Same old. Same old. But, now that we are on to their game, we the People are forming our own Club, and we are starting to “out” the transgressors, like for example NYUgrad telling us that HRB’s Board member Jerry D. Choate resigned “for health reasons,” which is fine, except Mr. Choate’s other Board directorships appear to remain “healthy”. If that is the case, then kudo’s to NYUgrad.

Yes, there is a ‘wisdom of crowds’ effect. The hundred thousand pairs of eyes here in this blog will see a lot more than you or I. A contribution here and there can multiply to a point we all receive the info and insights we need to combat the challenges that the Sell-side and many corporations deliberately put in our way.

Let’s drop the word ‘shall’. We will overcome.

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