The Banks ($XBK) and Broker-Dealers ($XBD), both down -3.6% on the session, led the sell-off.

As noted earlier, (Cara 100 companies) Disney (DIS +2.9%) reported a +22% gain in earnings to $1.13 billion ($0.58/share), and Cisco (CSCO) at $0.38/share) beat Wall Street consensus estimates by 2 cents, although they did warn that revenue growth could slow this quarter. Cognizant Technology Solutions (CTSH -10.5%) was hammered due to lower guidance this quarter even though Q1 earnings beat estimates ($0.34/sh vs $0.33).

On the US economics front, Q1 productivity was strong (up +2.2%) – which happens after lay-offs – while Unit Labor Costs were up + 2.2%, a bit below expectations. Pending home sales for March fell -1.0%, although the figure was expected to be -1.8%, and are down Y/Y by -20%.

The European Central Bank (ECB) left its borrowing rate steady at 4% this morning. The Bank of England (BoE) did the same, leavings its rate at 5%.

Yesterday, the US long bond ($USB was stronger ($USB +0.28%) at $115.75. Yields fell as traders fled to the safety of the US Treasury market as they sold equities.

Crude Oil ($WTIC) gained a further +1.69/bbl to close at 123.53, after hitting a record high of 123.93.

$GOLD dropped -$6.50/oz to 871.20 yesterday, but is a bit stronger this morning.

Asia-Pacific equity markets were mixed overnight. In trading at mid-session in Europe, there were minimal losses of -0.1% to -0.5%. The June Dow 30 futures are up slightly to 12848.

June Crude Oil futures are quiet at 123.50 and the June Euro a tad softer at 1.5320.

Spot prices for precious metals are a little stronger due to this morning’s statements by ECB and BoE to keep the key bank borrowing rate stable.

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Comments & Outlook

While the ECB and BoE stand pat in their efforts to fight rising inflation with borrowing rates of 4% and 5% respectively, the US Federal Reserve has lowered its rate seven times in seven months to 2%.

The 15-nation Euro bloc covers 317 million people and 22% of global gross domestic product, more than Japan and China, but still below the US at 27% of global GDP.

At some point there will be a dawning realization by the People that the Fed, regardless of its front man (Bernanke, Greenspan, etc) is a toady for the gnomes who control America’s banks and big business.

In my Community Chat today, I pointed you to “The Story of Deep Capture” - by Mark Mitchell. I hope you read it, ponder the implications if it is true – and I assert that most of it is – and start acting accordingly. Stop listening to the Talking Heads for bankers who would mislead you.

Capital markets need to be operated in the interests of the owners of capital, not for the servants in the form of financial services providers. The last 70 years has witnessed the biggest transfer of wealth as a percentage of all wealth created by man to the pockets of a few bankers and their Friends & Family.

For the benefit of society, this process must be reversed.

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Links & Charts

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International Economics Review

US Economic Calendar.

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Knobias Cara100 Tables

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Cara 100 Daily RSI-7 Charts

At least one RSI value >70:

Ticker	Last	RSI-7M	RSI-7W	RSI-7D	Zone
PBR	126.75	92.66	66.43	58.44
GGB	41.24	81.71	81.64	63.78	Sell alert (trig. 1 days ago [on 2008-05-07 at $41.24, +0.00% chg], after a 3 day DZ)
RIO	39.06	79.82	75.43	52.09
NUE	78.57	78.28	79.16	68.23	Sell alert (trig. 1 days ago [on 2008-05-07 at $78.57, +0.00% chg], after a 1 day DZ)
ECA	84.01	77.66	71.33	61.77
WMT	56.83	76.24	72.54	48.01	Sell alert (trig. 6 days ago [on 2008-04-30 at $57.98, -1.98% chg], after a 7 day DZ)
TT	46.18	75.09	62.00	44.19
ATVI	27.49	75.06	58.87	61.28
PDA	55.85	74.84	74.36	55.77	Sell alert (trig. 2 days ago [on 2008-05-06 at $57.80, -3.37% chg], after a 2 day DZ)
SYT	58.22	74.80	56.44	35.57
BHP	82.71	73.53	64.84	51.06
RIMM	129.98	73.47	77.70	59.85	Sell alert (trig. 2 days ago [on 2008-05-06 at $132.10, -1.60% chg], after a 1 day DZ)
ABB	30.55	71.88	77.62	63.67	Sell alert (trig. 1 days ago [on 2008-05-07 at $30.55, +0.00% chg], after a 9 day DZ)
NKE	66.75	71.62	61.69	42.78
CHRW	63.79	71.31	82.61	52.61	Sell alert (trig. 1 days ago [on 2008-05-07 at $63.79, +0.00% chg], after a 4 day DZ)
STO	38.06	71.23	85.60	76.77	Distribution Zone (for 4 days)
BBD	22.83	70.90	74.37	51.34	Sell alert (trig. 2 days ago [on 2008-05-06 at $23.65, -3.47% chg], after a 2 day DZ)
SU	120.27	70.37	73.75	68.55
COST	72.08	69.18	73.76	67.74	Sell alert (trig. 1 days ago [on 2008-05-07 at $72.08, +0.00% chg], after a 5 day DZ)
CVX	95.28	66.15	70.52	57.86
IBKR	32.73	66.05	62.75	81.48
VIP	32.98	65.51	54.31	78.57
DIS	34.70	64.47	73.83	84.38
TS	53.69	64.08	71.28	51.77
NTES	23.23	63.21	76.60	75.73
LLTC	35.41	62.22	80.23	61.08
GOOG	579.00	55.72	70.05	64.26

At least one RSI value <30:

Ticker	Last	RSI-7M	RSI-7W	RSI-7D	Zone
SBUX	15.95	16.64	27.42	33.53
BC	16.60	27.71	50.22	54.87
UBS	32.05	28.02	36.80	29.54
DELL	18.90	28.05	34.96	44.70
GOL	16.14	28.68	42.64	49.39
GRMN	42.89	29.69	26.26	42.65	Buy alert (trig. 5 days ago [on 2008-05-01 at $43.12, -0.53% chg], after a 1 day AZ)
DNA	67.65	37.47	29.39	28.92
ABX	39.01	47.21	29.60	43.27
PG	65.80	48.93	33.75	26.59
KO	57.03	53.04	29.10	15.82

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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 14: 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
AA	38.09	0.09	0.24%	9.52%	7.81%	3.39%	5.42%	16.20%	1.84%	-1.40%
DIS	34.70	0.97	2.88%	7.00%	9.67%	12.48%	8.98%	9.39%	3.58%	-3.77%
HPQ	48.65	0.01	0.02%	4.96%	1.31%	5.55%	-2.33%	20.12%	-6.15%	11.07%
INTC	23.17	-0.41	-1.74%	4.09%	2.70%	8.17%	-8.60%	15.56%	-13.87%	5.51%
IBM	124.14	1.32	1.07%	2.85%	0.44%	6.31%	18.58%	21.30%	11.76%	20.34%
MRK	39.01	0.17	0.44%	2.55%	1.01%	-4.71%	-32.00%	-14.64%	-28.03%	-25.02%
MSFT	29.21	-0.49	-1.65%	2.42%	-7.12%	1.11%	-17.06%	3.88%	-17.76%	-4.88%
AXP	48.70	-2.26	-4.43%	1.42%	9.73%	8.03%	-4.58%	4.84%	-12.05%	-23.03%
BAC	38.00	-1.24	-3.16%	1.23%	3.09%	0.18%	-6.31%	-12.38%	-12.26%	-26.10%
UTX	73.03	-1.65	-2.21%	0.77%	1.63%	3.14%	-2.90%	2.18%	-1.92%	5.76%
T	38.82	-0.74	-1.87%	0.28%	0.75%	1.65%	-5.32%	4.92%	0.41%	-1.97%
JNJ	66.91	-0.67	-0.99%	-0.27%	-0.52%	0.94%	1.52%	6.53%	4.69%	4.12%
MMM	76.68	-1.08	-1.39%	-0.29%	-4.90%	-3.66%	-7.29%	-3.08%	-7.91%	-9.71%
CAT	81.63	-1.60	-1.92%	-0.31%	-0.07%	7.18%	15.57%	19.48%	10.91%	12.33%
MCD	59.38	-1.11	-1.84%	-0.34%	1.18%	6.53%	2.20%	9.03%	1.71%	19.96%
BA	84.55	-1.60	-1.86%	-0.37%	3.00%	7.57%	-2.39%	6.02%	-12.74%	-10.59%
GE	32.57	-0.43	-1.30%	-0.40%	0.65%	-10.62%	-11.40%	-4.85%	-16.66%	-12.54%
VZ	38.28	-0.61	-1.57%	-0.52%	5.37%	6.27%	-11.41%	3.60%	-11.18%	-6.25%
DD	48.54	-1.11	-2.24%	-0.76%	-2.88%	-1.02%	10.97%	7.44%	2.95%	-5.98%
HD	28.56	-0.72	-2.46%	-0.83%	1.53%	3.22%	9.38%	0.56%	-2.66%	-26.47%
CVX	95.28	-1.59	-1.64%	-0.90%	0.85%	5.93%	1.95%	21.01%	8.84%	19.73%
PFE	19.92	-0.50	-2.45%	-0.94%	0.20%	-4.64%	-13.05%	-12.13%	-14.58%	-27.25%
PG	65.80	-0.85	-1.28%	-1.86%	-2.04%	-6.28%	-9.00%	0.05%	-5.21%	5.82%
WMT	56.83	0.48	0.85%	-1.98%	-0.16%	4.97%	21.17%	14.02%	29.36%	16.91%
JPM	46.57	-1.63	-3.38%	-2.27%	3.15%	5.12%	10.43%	3.24%	10.25%	-11.68%
AIG	45.08	-3.32	-6.86%	-2.42%	2.78%	-1.05%	-19.93%	-12.72%	-22.14%	-37.04%
KO	57.03	-1.24	-2.13%	-3.13%	-5.45%	-6.17%	-6.65%	-2.43%	-4.89%	6.38%
C	24.48	-1.39	-5.37%	-3.13%	-0.61%	3.82%	-15.35%	-8.31%	-26.73%	-54.57%
XOM	88.82	-1.25	-1.39%	-4.57%	-5.73%	-0.98%	-5.02%	8.46%	1.86%	9.88%
GM	21.40	-0.94	-4.21%	-7.76%	2.20%	6.31%	-12.33%	-18.63%	-36.97%	-28.95%

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 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

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change