Commodity-linked sectors (XLE +5.2%) (XLB +3.4%), Technology (XLK +2.1%), and Financials (XLF +2.0%) pulled the US equity market higher. The weakest sector was Industrials (XLI), but there was a substantial gain there.

Probably the major impetus for the session rally was the better-than-expected monthly retail sales data in the US. Retailers reported mostly strong chain store sales for May. Wal-Mart (WMT), BJ's Wholesale Club (BJ), and Costco (COST) had strong reports, thanks to the so-called tax rebate program.

Of the industry groups that were strongest, the Airlines ($XAL +6.3%), Oil Services ($OSX +4.8%) and Broker-Dealers ($XBD +4.3%) led the pack. There were no negative industry groups.

For the Cara 100 companies, Tenaris (TS +9.5%), which produces steel pipe for the oil producers and drillers, Nucor Steel (NUE +8.6%), Gerdau Steel (GGB +7.2%) and UBS (UBS +6.9%) were strong. The weakest were Garmin (GRMN -2.3%) and Yahoo (YHOO -1.8%). Only six of the 100 were down.

On the economics front, the weekly jobless claims fell 18K to 357K, which was a positive. The Canadian unemployment is reported as being 6.1% of the work force.

On the M&A front, Verizon (VZ) announced it will purchase Alltel (AT) for $28.1 billion in cash and stock.

The US Dollar plunged following hawkish inflation comments from ECB President Trichet. The $USD dropped -0.61% to 73.04. The Euro gained +1.0%.

Yields on US Treasuries lifted by +1.0% to 4.73 on the 30-year, by 2.2% to 4.025 on the 10-year. The 30-year bond closed down -0.87% to 114.25.

$GOLD futures dropped -$8.30/oz to 875.50. This morning, in the spot market, gold is up to 885.24 from yesterday morning’s 870.27. Palladium, platinum and silver are at 429, 2052, and 17.20 respectively.

The Euro is at 1.5584 today compared to just 1.5385 at this time yesterday. The Crude Oil futures are even stronger than yesterday’s close, at 129.60/bbl compared to 122.58 yesterday morning.

The DJIA futures are modestly higher (+4) to 12622.

Overnight in Asia-Pacific equity markets, the Aussie All-Ords jumped +1.02%, and the Nikkei of Japan was up +1.03%. Hong Kong was also up a bit, while shanghai and India were down -0.66% and -1.25% respectively.

---

Comments & Outlook

Every time the market looks nervous, there seems to be an undue focus on one of the key economic reports. Today is US Jobs Friday. Regardless of the data, there will be spin in the air.

The $USD is weak, so gold prices are up.

---

The KINGZ/Cara managed forex account performance has been updated. This net, net return on invested capital for the client is excellent.

The performance for May-08 was +4.93%; resulting in a 3 month simple return=11.21% (11.62% compounded), and 12-month simple return=43.61% (53.24% compounded).

The performance for Apr-08 was +3.79%; resulting in a 3 month simple return=10.11% (10.45% compounded), and 12-month simple return=39.68% (47.50% compounded).

Hopefully, the chart on the website sidebar will be updated today.

---

Finally, the table of Cara 100 M-W-D RSI-7 studies done by korvus are now correct and can be accessed here. Just hit go!

In time, we will increase the sophistication of this tool.

Have a great day. Mine is a public holiday. I’m off to the beach. I’m told I need the time off!

I feel so guilty. :-)

---

Links & Charts

---

International Economics Review

US Economic Calendar.

---

Knobias Cara100 Tables

---

Cara 100 Daily RSI-7 Charts

At least one RSI value >70:

Ticker	Last	RSI-7M	RSI-7W	RSI-7D	Zone
PBR	68.53	90.17	61.53	46.83
GGB	51.48	88.41	91.84	66.44	Sell alert (trig. 6 days ago [on 2008-05-29 at $49.59, +3.81% chg], after a 1 day DZ)
ATVI	34.50	87.56	89.02	80.45	Distribution Zone (for 6 days)
SYT	64.65	84.53	75.43	73.63	Distribution Zone (for 1 days)
NUE	80.54	82.93	67.66	69.06
PDA	59.92	80.38	66.20	44.37	Sell alert (trig. 4 days ago [on 2008-06-02 at $63.80, -6.08% chg], after a 3 day DZ)
ECA	90.69	80.29	67.06	51.49
WMT	59.80	80.29	73.57	76.40	Distribution Zone (for 1 days)
NKE	70.07	78.19	68.58	72.40
TT	46.49	76.65	65.62	56.92
EXC	89.69	76.41	74.05	63.13	Sell alert (trig. 7 days ago [on 2008-05-28 at $88.82, +0.98% chg], after a 1 day DZ)
TS	64.89	76.29	86.64	74.27	Distribution Zone (for 1 days)
RIMM	135.59	76.13	67.90	50.57
VCP	34.93	75.91	67.09	79.35
ABB	32.69	75.84	84.68	59.70
QCOM	49.39	74.45	86.11	67.22	Sell alert (trig. 5 days ago [on 2008-05-30 at $48.54, +1.75% chg], after a 1 day DZ)
SU	67.13	73.13	69.54	50.01	Sell alert (trig. 8 days ago [on 2008-05-27 at $68.68, -2.26% chg], after a 12 day DZ)
STO	37.42	72.35	64.17	43.82	Sell alert (trig. 8 days ago [on 2008-05-27 at $39.07, -4.22% chg], after a 7 day DZ)
BBD	23.46	72.25	76.31	55.27
COST	73.50	71.98	64.95	63.42
BHP	84.20	71.53	57.79	40.34
RIO	38.71	71.47	55.79	41.83
CVX	99.99	71.10	67.91	55.95
ORCL	23.18	69.05	73.24	74.25
IBKR	34.72	67.44	66.72	78.61
LLTC	36.44	66.34	79.68	51.92
INFY	49.37	62.43	79.14	71.19
ADBE	43.89	60.32	82.09	67.00
CTSH	36.78	56.90	73.27	80.00
CSCO	27.54	55.65	72.42	75.22
DELL	24.02	53.76	80.44	84.35
OXPS	23.61	45.40	61.59	73.18
TM	106.74	45.08	60.33	73.32
WAG	36.70	42.50	56.25	71.86
SBUX	18.52	32.85	59.34	73.49

At least one RSI value <30:

Ticker	Last	RSI-7M	RSI-7W	RSI-7D	Zone
UBS	25.40	20.77	23.45	42.46	Buy alert (trig. 1 days ago [on 2008-06-05 at $25.40, +0.00% chg], after a 7 day AZ)
ERJ	34.71	21.18	18.18	22.03	Accumulation Zone (for 3 days)
BC	14.20	22.83	29.88	40.97	Buy alert (trig. 1 days ago [on 2008-06-05 at $14.20, +0.00% chg], after a 1 day AZ)
WFMI	29.73	25.99	35.74	58.42	Buy alert (trig. 7 days ago [on 2008-05-28 at $28.69, +3.62% chg], after a 5 day AZ)
GOL	14.60	27.14	32.91	40.15
DB	103.48	33.74	18.30	21.65
NOK	26.78	34.34	28.07	22.76
IBN	36.95	36.98	25.04	38.96
BA	77.31	39.28	38.55	20.92

---

International Equity Markets Review

Europe

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

---

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

---

Here is the latest session data for the German DAX.

---

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

---

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

---

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

---

Asia-Pacific

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

---

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

---

Here is the latest chart for the Singapore index .

---

Here is the latest chart for the Shanghai Composite index .

---

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

---

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

---

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

---

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
HPQ	48.51	1.70	3.63%	3.41%	8.28%	-0.29%	-2.61%	0.41%	-6.10%	5.64%
WMT	59.80	2.12	3.68%	3.21%	8.27%	5.23%	27.51%	20.69%	22.29%	18.37%
INTC	23.87	0.39	1.66%	3.15%	0.89%	3.02%	-5.84%	18.17%	-12.31%	8.70%
AIG	36.41	0.69	1.93%	3.03%	-2.80%	-19.23%	-35.33%	-18.38%	-37.39%	-49.65%
DIS	34.49	0.14	0.41%	2.01%	2.47%	-0.61%	8.32%	9.01%	5.31%	-2.21%
PG	66.67	0.22	0.33%	1.83%	2.30%	1.32%	-7.80%	-0.04%	-9.67%	5.06%
VZ	38.96	1.98	5.35%	1.54%	4.67%	1.78%	-9.84%	8.37%	-12.49%	-8.89%
AXP	47.43	1.79	3.92%	1.45%	4.29%	-2.61%	-7.07%	12.31%	-18.13%	-26.79%
GE	31.06	0.61	2.00%	1.37%	0.10%	-4.64%	-15.51%	-7.75%	-15.39%	-16.95%
CVX	99.99	3.95	4.11%	1.14%	-2.94%	4.94%	6.99%	12.61%	11.97%	20.86%
JNJ	66.96	0.41	0.62%	0.81%	1.87%	0.07%	1.59%	6.07%	-1.83%	5.77%
HD	27.91	0.73	2.69%	0.72%	3.64%	-2.28%	6.89%	4.30%	-3.66%	-28.18%
MSFT	28.30	0.76	2.76%	-0.04%	0.18%	-3.12%	-19.65%	0.64%	-17.13%	-7.46%
XOM	89.31	3.56	4.15%	-0.04%	-4.65%	0.55%	-4.49%	2.43%	-0.68%	5.99%
CAT	82.73	0.27	0.33%	-0.06%	-0.80%	1.35%	17.13%	15.14%	13.78%	5.19%
MRK	38.89	0.72	1.89%	-0.08%	-0.61%	-0.31%	-32.21%	-10.08%	-34.53%	-24.40%
DD	47.73	0.96	2.05%	-0.15%	-1.59%	-1.67%	9.12%	0.91%	2.21%	-8.63%
MMM	77.50	1.14	1.49%	-0.33%	1.81%	1.07%	-6.30%	-1.81%	-7.47%	-11.39%
UTX	69.97	0.71	1.03%	-0.37%	-2.85%	-4.19%	-6.97%	0.34%	-8.95%	-1.10%
AA	40.08	1.18	3.03%	-0.64%	-3.88%	5.22%	10.93%	3.54%	12.55%	-1.26%
IBM	128.47	0.92	0.72%	-0.96%	4.04%	3.49%	22.71%	11.34%	18.78%	21.38%
KO	57.19	0.49	0.86%	-1.18%	0.95%	0.28%	-6.38%	-4.17%	-9.29%	9.31%
T	39.46	0.96	2.49%	-1.84%	1.47%	1.65%	-3.76%	11.31%	2.71%	-2.54%
GM	17.05	0.04	0.24%	-1.90%	-10.83%	-20.33%	-30.15%	-25.77%	-39.32%	-43.43%
MCD	58.05	0.07	0.12%	-2.40%	-1.24%	-2.24%	-0.09%	7.62%	-2.45%	14.16%
JPM	42.10	0.47	1.13%	-3.37%	-0.87%	-9.60%	-0.17%	8.67%	-6.24%	-17.81%
C	21.22	0.14	0.66%	-3.72%	0.76%	-13.32%	-26.63%	-4.20%	-37.01%	-60.63%
PFE	18.67	-0.13	-0.69%	-3.76%	-5.37%	-6.28%	-18.51%	-15.33%	-22.14%	-31.56%
BA	77.31	-0.71	-0.91%	-5.85%	-4.78%	-8.56%	-10.75%	-4.21%	-14.76%	-22.30%
BAC	31.99	0.00	0.00%	-7.54%	-8.18%	-15.82%	-21.13%	-14.81%	-29.27%	-36.85%

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)

---

The Americas

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

---

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

---

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

---

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	3M %Change	6M %Change	12M %Change
XLB	45.48	1.60	3.65%	2.90%	1.79%	5.38%	10.12%	9.51%	8.54%	10.71%
XLE	87.52	4.13	4.95%	2.82%	-1.72%	5.12%	10.09%	13.07%