It appears from yesterday’s trading that the DJIA=12,850 is the short-term technical support.

The S&P 500 closed up +1.49 pct, the Nasdaq Composite up +1.57 pct and the Russell 2000 small caps +1.12 pct.

Clearly the buying burst came in selected large cap Broker-Dealers ($XBD +3.31 pct), Banks ($BKS +2.60 pct), REITS ($DJR +2.19 pct), Biotech ($BTK +2.20 pct), Healthcare ($HCX +2.14 pct), and Internet ($IIX +2.28 pct).

The Techs RIMM, DELL, INTC, and EMC were very strong. So too, in the Financials, were JPM and CFC, and PFE in healthcare. Some of these, like CFC and EMC, have rebounded off substantial recent declines.

Crude Oil and Precious Metal prices dropped significantly, with Crude Oil ($WTIC -3.28 -3.36 pct) and Gold ($GOLD -5.30 -0.64 pct) down together on the session. Early this morning, spot Gold hit a low of 790, down from a high of 338 just 48 hours ago. The Goldminers Index ($XAU) dropped -3.73 pct.

At 7:43 am today, spot Gold is at 798.70, and spot silver at 14.27. Spot Silver had hit a high of 15 and Gold at 338 on Monday morning.

The Jan-08 e-miNY Crude Oil is presently at 94.575, having fallen from a high of just over 99 on Monday morning.

The US 10-year Treasury yield lifted +0.97 to 3.944, which is a gain of +2.52 pct. That helped the $USD rally +0.40 pct to 75.12.

In international equity markets yesterday, with the exception of a small gain in Tokyo (Nikkei 225 Index +0.58 pct), the rest in Asia-Pacific and Europe were down. The US market late-session bump took the Toronto composite index to a small gain (+0.36 pct).

Today the Asia-Pacific equity markets, except for a small gain in Hong Kong, were down on average about -1.0 pct. In Europe at 7:50 am ET, the indexes are up on average about +1.0 pct.

The Dow futures for Dec this morning are strong are +71 at 13026.

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Comments & Outlook

This morning at 7:00 am ET, the US Mortgage Bankers Association reported current data on mortgage applications. The data was weak, but that was expected. Today there will be a cry from city Mayors across America for help to keep the People in their homes and away from bank foreclosures. This is a sad situation for millions of Americans, and it will get worse, possibly for two years or more.

At 10:00 am, the US National Association of Realtors publishes the Existing Home Sales (resales actually) estimate for October. This figure (an annualized rate) peaked in the summer 2005 at the height of the market frenzy at about 7.2 million. September resales fell -8.0 pct to a 5.040 million annual rate, which Y/Y was down -19.1 pct. The housing recession has bloated supply on the market to 10.5 months sales, the highest level since 1999, which in turn has pushed prices down -5.7 pct month over month.

This data impacts the share prices of home builders, mortgage lenders and home furnishings companies. It appears that mortgage rates have to fall about -1.0 pct from here before resales and new sales would pick up, and for that to happen, bond yields would have to fall, and prices rise, significantly from the current levels.

In fact, it appears that bond yields are already extended on the downside, which is pushing the $USD lower, so I believe that the yields/rates picture is not going to help the housing and mortgage markets as an economic driver through the winter.

The average rates across the country, which have come down in the past week, are, according to bankrate.com:

Loan Type
30 Year Fixed 5.80%
15 Year Fixed 5.38%
1 Year ARM 5.52%
30 Year Fixed Jumbo 6.64%
5/1 ARM 5.50%
3/1 ARM 5.29%

Also , the US Durable Goods Orders Report will come out at 8:30 am this morning. One of the reasons why the US Transport sector stocks have been hammered is because delivery of manufactured hard goods has dropped so much in August and September. Do you recall when the Retailers stocks hit the wall across the board in July? That was the consumer telling the stores they had no more tickee, and then the stores passed that story along to the factories who then stopped lining up transportation services. Everything goes back to the US consumer and their disposable income.

What’s happening today is that the US is headed into recession because the average consumer is getting to the end of the month a dollar short, and that’s because mortgage costs or rent, property taxes, insurance, water, electric power, fuel for home and car, education, health, clothing, entertainment, and food, etc, have been rising at an annual rate that is far higher than the rate published by the US government Dept of Labor, and wages have not increased enough to make up the gap. That’s partly due to the fact that skilled jobs are being either automated or exported to countries that have much lower rates.

So financial returns on equity capital invested are rising, meaning the wealthiest people are getting wealthier, but Jane & Joe 6-pack are being squeezed. Ergo recession.

These are important reports for traders to be reviewing. Econoday will update the pages later in the morning. The data, and not the spin from Financial Entertainment Television, is what you need to pay attention to.

As recession in the US and Europe becomes a more distinct possibility, the prospect of corporate earnings and dividends growth will diminish. Capital spending, which like consumer spending is an important economic driver, will also diminish. So stocks in most sectors will be negatively impacted. Commodity prices will be too, since individuals and corporations will be buying less fuel and basic materials, and speculative activity will soften.

So, now is the time to focus on the economic charts and data provided by Econoday. Anecdotes are fine but this data speaks volumes. Decide for yourself if the economy is faltering, and then take steps, if you haven’t already, to protect your investment portfolio.

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Links & Charts

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International Economics Review

US Economic Calendar.

US Resale Homes Report.

US Durable Goods Report.

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Cara 100 Daily RSI-7 Charts

RSI > 70 (1)

RSI < 30 (11)

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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
BA	91.73	1.80	2.00%	3.92%	-1.22%	-5.42%	2.87%	-6.91%	-6.64%	4.99%
XOM	86.38	0.70	0.82%	2.70%	2.18%	-7.72%	16.56%	1.48%	3.44%	19.19%
JPM	42.35	1.89	4.67%	2.37%	-0.09%	-9.26%	-11.90%	-5.70%	-17.99%	-9.18%
IBM	103.83	1.86	1.82%	1.58%	2.35%	-9.56%	6.74%	-8.47%	-1.28%	13.54%
DIS	31.72	0.48	1.54%	1.50%	-0.94%	-8.54%	-7.25%	-6.26%	-11.96%	-2.67%
GM	27.15	0.25	0.93%	1.34%	-11.82%	-28.48%	-7.81%	-10.46%	-10.95%	-10.57%
MRK	58.94	1.35	2.34%	1.18%	5.27%	2.03%	33.89%	17.60%	9.76%	35.12%
KO	62.98	1.25	2.02%	1.09%	5.21%	1.84%	29.64%	16.61%	21.37%	35.30%
CAT	68.82	0.99	1.46%	0.91%	-1.12%	-6.87%	12.52%	-9.45%	-9.10%	11.05%
WMT	45.83	0.80	1.78%	0.79%	5.79%	1.82%	-3.62%	4.59%	-2.30%	-1.67%
PFE	22.88	0.58	2.60%	0.75%	-0.61%	-6.65%	-12.97%	-7.59%	-16.89%	-15.17%
UTX	74.00	1.32	1.82%	0.54%	0.09%	-2.35%	17.82%	0.38%	7.84%	14.13%
MMM	82.12	1.12	1.38%	0.51%	3.66%	-4.48%	4.93%	-7.42%	-5.99%	2.36%
PG	73.13	0.94	1.30%	0.43%	3.33%	1.81%	13.31%	12.11%	16.15%	16.37%
JNJ	67.73	0.36	0.53%	0.21%	2.14%	4.23%	2.00%	9.95%	7.18%	3.17%
AA	35.04	0.16	0.46%	-0.09%	-2.31%	-13.33%	19.47%	-5.25%	-14.33%	16.18%
INTC	25.11	0.74	3.04%	-0.24%	-0.71%	-4.38%	23.39%	2.70%	13.31%	19.46%
DD	44.59	0.65	1.48%	-0.54%	-4.74%	-9.02%	-9.07%	-8.68%	-13.35%	-7.10%
MO	73.35	1.91	2.67%	-0.66%	1.21%	0.52%	12.99%	4.67%	3.63%	17.15%
HON	54.05	0.86	1.62%	-1.30%	-5.39%	-9.48%	19.84%	-5.01%	-5.06%	28.11%
HPQ	48.71	0.55	1.14%	-1.48%	2.46%	-5.91%	17.04%	1.93%	6.77%	26.06%
AIG	54.49	1.93	3.67%	-1.55%	-4.03%	-13.78%	-24.48%	-18.73%	-24.27%	-22.43%
GE	37.45	0.72	1.96%	-1.86%	-2.09%	-7.67%	-1.37%	-3.97%	-0.29%	5.64%
MCD	57.46	0.64	1.13%	-1.95%	-1.84%	-2.91%	30.98%	16.15%	12.89%	39.81%
MSFT	33.06	0.09	0.27%	-2.65%	-0.96%	-4.37%	10.72%	16.04%	8.46%	12.11%
T	36.73	0.38	1.05%	-2.70%	-4.97%	-12.00%	5.09%	-8.40%	-9.89%	12.39%
AXP	55.62	2.08	3.88%	-3.05%	-0.84%	-8.08%	-7.85%	-7.24%	-12.59%	-5.44%
HD	27.15	-0.34	-1.24%	-3.69%	-4.60%	-13.54%	-33.89%	-22.98%	-29.26%	-27.77%
VZ	41.46	0.23	0.56%	-3.69%	-3.13%	-9.85%	9.62%	-2.65%	-2.45%	21.09%
C	30.32	-0.38	-1.24%	-5.25%	-9.68%	-28.98%	-45.12%	-36.56%	-44.99%	-39.23%

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_27 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
IYH	70.85	1.20	1.72%	0.81%	1.32%	-0.88%	6.61%	3.57%	-1.94%	8.93%
XLP	28.55	0.30	1.06%	0.63%	2.33%	0.71%	8.64%	5.74%	3.67%	12.36%
XLU	42.03	0.18	0.43%	0.55%	2.01%	0.29%	14.15%	8.89%	2.26%	17.40%
XLI	38.30	0.73	1.94%	0.13%	-0.52%	-5.57%	8.71%	-2.07%	-0.52%	9.74%
XLB	39.00	0.31	0.80%	-0.31%	-2.18%	-10.88%	12.68%	-0.13%	-3.06%	13.04%
XLY	33.15	0.47	1.44%	-0.33%	-2.39%	-9.55%	-13.94%	-9.28%	-16.35%	-11.34%
XLE	70.70	-0.79	-1.11%	-1.05%	-0.21%	-8.56%	24.96%	3.36%	4.32%	23.43%
SMH	31.58	0.48	1.54%	-1.99%	-3.19%	-7.53%	-5.93%	-15.18%	-12.91%	-8.83%
XLF	28.84	0.55	1.94%	-2.86%	-4.66%	-14.67%	-21.89%	-15.52%	-23.22%	-18.69%
IYZ	27.88	0.11	0.40%	-3.46%	-3.83%	-14.43%	-6.00%	-15.97%	-17.71%	-0.36%

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
EWJ	13.87	0.23	1.69%	4.84%	3.43%	-3.21%	-2.32%	0.07%	-3.07%	5.08%
FXI	176.47	8.67	5.17%	4.08%	4.11%	-18.03%	51.61%	15.29%	57.45%	88.03%
EWU	24.81	0.36	1.47%	2.14%	-0.68%	-8.25%	5.35%	2.10%	-2.05%	7.87%
IEV	117.49	1.64	1.42%	1.90%	0.42%	-5.02%	11.26%	4.95%	0.70%	15.25%
QQQQ	49.96	0.98	2.00%	0.52%	2.52%	-7.75%	15.54%	4.34%	7.56%	14.48%
TRF	66.49	0.80	1.22%	0.14%	-0.14%	-10.27%	-24.91%	6.81%	-1.13%	-11.81%
SPY	142.57	1.62	1.15%	-0.83%	-0.79%	-7.50%	0.85%	-2.98%	-6.01%	3.00%
IFN	56.00	1.23	2.25%	-1.48%	2.49%	-10.26%	23.51%	22.65%	30.17%	16.79%
EWC	31.21	-0.80	-2.50%	-6.16%	-12.21%	-7.72%	26.36%	8.41%	4.70%	22.68%
EWZ	74.40	1.90	2.62%	-7.23%	-2.17%	-11.89%	59.31%	24.17%	28.63%	75.27%

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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	3.04	2.99	3.17	3.80
6 Month	3.24	3.14	3.29	3.87
2 Year	3.07	2.88	3.19	3.76
3 Year	2.99	2.81	3.06	3.77
5 Year	3.38	3.20	3.54	4.05
10 Year	3.95	3.83	4.10	4.40
30 Year	4.36	4.29	4.50	4.70

Municipal Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	3.18	3.15	3.27	3.26
2yr AAA	3.24	3.22	3.29	3.35
2yr A	3.36	3.34	3.41	3.39
5yr AAA	3.32	3.29	3.40	3.42
5yr AA	3.28	3.24	3.29	3.36
5yr A	3.43	3.40	3.51	3.59
10yr AAA	3.73	3.78	3.85	3.74
10yr AA	3.61	3.75	3.73	3.70
10yr A	3.96	4.01	4.08	3.87
20yr AAA	4.41	4.39	4.43	4.37
20yr AA	4.62	4.79	4.61	4.56
20yr A	4.74	4.70	5.00	4.38

Corporate Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	4.25	4.05	4.31	4.57
2yr A	4.54	4.30	4.49	4.67
5yr AAA	4.57	4.38	4.61	4.80
5yr AA	4.82	4.61	4.89	5.01
5yr A	4.62	4.42	4.70	5.00
10yr AAA	5.07	4.91	5.16	5.27
10yr AA	5.53	5.36	5.59	5.58
10yr A	5.69	5.52	5.69	5.68
20yr AAA	5.55	5.40	5.56	5.71
20yr AA	5.70	5.59	5.76	5.88
20yr A	6.01	5.86	6.02	6.05

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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	94.67	-0.91	-0.95%	1.78%	3.28%	4.14%	6.29%	7.20%	9.61%	4.09%
TIP	106.93	-0.97	-0.90%	0.90%	1.17%	3.02%	7.76%	5.98%	7.17%	6.39%
IEF	87.28	-0.82	-0.93%	0.65%	1.49%	2.74%	5.56%	4.41%	6.54%	4.45%
AGG	101.75	-0.42	-0.41%	0.53%	1.08%	0.98%	1.84%	2.42%	2.41%	1.10%
SHY	82.38	-0.25	-0.30%	0.17%	0.55%	1.08%	2.92%	1.78%	2.80%	2.58%
CFC	8.970	0.330	3.82%	-15.14%	-31.99%	-46.70%	-78.70%	-55.15%	-77.28%	-77.28%
FNM	29.40	0.48	1.66%	-21.77%	-37.53%	-48.80%	-50.89%	-55.78%	-54.46%	-47.43%
FRE	25.73	1.23	5.02%	-31.39%	-35.68%	-50.28%	-62.10%	-58.88%	-61.40%	-61.33%

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:

Table 2: Senior oil & gas 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
CEO	177.06	6.21	3.63%	14.05%	9.84%	-16.71%	87.82%	42.53%	90.06%	103.47%
STO	31.86	-0.24	-0.75%	6.91%	1.01%	-9.77%	24.02%	13.50%	14.52%	21.09%
XOM	86.38	0.70	0.82%	2.70%	2.18%	-7.72%	16.56%	1.48%	3.44%	19.19%
TOT	80.03	0.10	0.13%	1.15%	0.04%	-0.90%	12.77%	8.31%	5.34%	14.21%
CVX	84.31	0.52	0.62%	-0.85%	-1.13%	-9.23%	18.80%	-3.09%	3.92%	22.63%
ECA	65.35	-2.13	-3.16%	-2.14%	-4.74%	-2.59%	44.13%	12.42%	6.64%	27.81%
SU	97.05	-3.35	-3.34%	-4.44%	-5.77%	-9.71%	31.31%	11.47%	11.39%	27.48%
IMO	48.62	-3.25	-6.27%	-5.63%	-9.10%	-9.70%	36.34%	12.62%	4.63%	31.05%
PBR	94.70	0.20	0.21%	-6.20%	-0.21%	0.23%	90.05%	58.73%	75.73%	112.62%

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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
GG	33.69	0.21	0.63%	9.99%	4.14%	-2.29%	23.23%	46.93%	47.38%	16.70%
ABX	41.22	-0.49	-1.17%	5.91%	-1.62%	-6.45%	38.18%	28.29%	42.63%	38.55%
AUY	13.30	-0.12	-0.89%	5.64%	5.39%	-11.33%	7.87%	30.39%	1.92%	12.71%
NEM	50.58	0.14	0.28%	4.14%	1.44%	6.10%	14.43%	25.04%	29.03%	10.82%
MDG	36.58	-0.38	-1.03%	4.10%	4.51%	-10.19%	39.14%	40.58%	48.10%	23.87%
KGC	17.55	-0.36	-2.01%	3.85%	0.86%	-8.55%	53.68%	53.41%	36.36%	46.25%
BVN	54.37	-0.09	-0.17%	3.78%	-1.54%	-1.63%	96.92%	43.23%	67.29%	93.01%
GFI	17.00	0.08	0.47%	-0.53%	-4.17%	-5.71%	-7.26%	16.76%	-1.33%	-3.41%
AEM	47.86	-1.37	-2.78%	-1.72%	-0.93%	-14.84%	22.97%	14.17%	40.85%	12.96%

To watch the moves in precious metal miners, you will have to monitor the individual stock cha