The DJIA (+57.81 +0.48% to 12141.58), S&P 500 (+4.38 +0.33% to 1339.87), and Nasdaq Composite (+10.34 +0.43% to 2404.35) were lifted by Banks ($BKX) and Broker-Dealers ($XBD). Hospitals ($RXH +2.8%) were strong. The commodity-based sectors (XLE -1.52%) pulled the market down.

Cara 100 winners on the day were ABV +8.7%, Indian banks IBN +8.1% and HDB +4.4% and QCOM +5.8%. Losers were YHOO -10.1%, GFI -5.5%, SU -4.0% and SNDK -3.3%.

In M&A news, Yahoo (YHOO) announced Microsoft (MSFT) is no longer interested in pursuing a deal, and is now seeking help from Google, it’s main competitor. As reported yesterday, Inbev (ABV) made a $46.4 billion offer for Anheuser-Busch (BUD).

On the economics front, US May retail sales lifted +1.0% and sales ex-auto's grew +1.2%, beating expectations, but also rising with rebate checks underlying the strength in both figures. Import prices for May grew +2.3%. The US labor market continues to soften as jobless claims grew +25,000 last week to 384,000.

As some traders perceived this economics data to be positive, the US Dollar posted a broad-based advance against all currencies. The $USD closed up +0.81% to 73.85, while the Euro dropped -0.64% to 1.5436, the Yen -1.08% to 92.67, the British Pound -0.82% to 1.9469, and the Cdn Dollar -0.73% to 97.65.

US Treasury selling continued as the $USB dropped a further -1.04% to 112.94. The yield on the 10-year Treasury is now up to 4.225 and on the T-Bill it’s at 1.950.

By the end of the session, however, Crude Oil rebounded to close at $137.38, up +$1.00/bbl on news the Nigerian government will take over the operations of a Royal Dutch Shell joint venture.

With the higher oil prices, the US Airlines ($UAL) were hit again, falling -2.42%, and the Goldminers ($XAU) lost -2.43%, not liking the stronger $USD or the pounding of the $GOLD price (-$10.90/oz to 872.00).

This morning, the $USD futures are stronger again, with the Euro futures down to 1.5338. Precious metal prices are all over the board as palladium (449) is up sharply and platinum (2032) a bit stronger, while silver is a bit weaker (16.53) and gold is down to 866.93.

Crude oil prices are down -0.99/bbl to 135.75.

The equity futures are up +58 to 12214.

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Comments & Outlook

This week is a tough one for independent traders. There seems to be an inordinate amount of intervention by central banks, pushing the $USD higher, trying to break the backs of the commodity players. That strength was incongruent with the higher inflation data that was reported yesterday, which makes me believe the Fed played a role in the opening rally.

But traders should note there have been a number of 52-week lows in the Cara 100, from General Electric (GE -2.6% to 29.05, hitting 28.89!) to some golds, food, drugs, and airlines, which is pretty much across the board, reflecting the fact this is a Bear market.

What appear to be on the lift are a few consumer discretionary spending stocks that have benefitted from the tax rebate in the US, which is the gift from Treasury.

As far as the move yesterday in the Financials, I’m not impressed. I figure this was one bank (Morgan Stanley) scratching the back of many of its peers.

Have a good day. Hopefully superstition (Friday the 13th) won’t affect your trading.

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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
GGB	48.38	91.25	72.89	44.16
SYT	61.65	90.66	58.59	45.87	Sell alert (trig. 5 days ago [on 2008-06-06 at $63.52, -2.94% chg], after a 1 day DZ)
ATVI	33.88	87.10	80.38	55.33	Sell alert (trig. 3 days ago [on 2008-06-10 at $33.80, +0.24% chg], after a 1 day DZ)
PBR	66.51	84.60	56.11	40.66
ECA	89.64	83.41	64.97	44.64
WMT	59.11	78.32	68.48	57.86	Sell alert (trig. 5 days ago [on 2008-06-06 at $58.37, +1.27% chg], after a 1 day DZ)
SU	64.58	78.02	60.83	37.99
NKE	66.78	78.00	52.78	43.02
EXC	87.70	77.41	61.16	48.05
TT	46.49	76.65	65.62	56.92
PDA	59.68	75.53	65.11	51.29
TS	62.55	73.57	73.74	53.01	Sell alert (trig. 3 days ago [on 2008-06-10 at $63.23, -1.08% chg], after a 3 day DZ)
QCOM	48.98	73.37	81.28	60.76
STO	37.73	73.11	65.26	47.06
RIMM	129.59	72.03	56.74	34.83
CVX	98.06	70.49	60.37	43.71
DELL	23.78	53.79	77.02	65.96

At least one RSI value <30:

Ticker	Last	RSI-7M	RSI-7W	RSI-7D	Zone
UBS	23.09	19.98	19.30	34.34	Buy alert (trig. 1 days ago [on 2008-06-12 at $23.09, +0.00% chg], after a 1 day AZ)
ERJ	31.45	20.79	13.09	11.10	Accumulation Zone (for 8 days)
BC	13.08	22.64	23.29	30.87	Buy alert (trig. 1 days ago [on 2008-06-12 at $13.08, +0.00% chg], after a 1 day AZ)
BDK	59.68	23.37	23.51	28.61	Accumulation Zone (for 2 days)
BMY	19.67	24.08	28.37	15.67	Accumulation Zone (for 3 days)
GE	29.05	24.85	21.82	23.18	Accumulation Zone (for 1 days)
GOL	12.22	25.85	20.86	15.53	Accumulation Zone (for 3 days)
WFMI	26.74	27.80	25.77	26.82	Accumulation Zone (for 2 days)
DB	95.03	28.04	12.50	15.52	Accumulation Zone (for 3 days)
SBUX	17.82	28.78	50.87	53.36
SNDK	23.68	32.15	34.68	18.56
GSK	41.60	32.89	33.76	26.75
WHR	66.14	33.39	27.92	27.51
GFI	11.06	34.09	22.47	12.33
KB	59.03	34.14	38.68	27.52
NOK	25.77	35.34	24.59	27.82
DEO	75.02	35.73	20.05	27.77
BA	74.12	36.45	31.97	27.31
IBN	35.28	37.03	22.00	44.14
YHOO	23.52	37.91	26.74	15.16
ERTS	45.99	38.33	28.91	24.13
HDB	84.11	40.75	22.21	33.42
BBBY	29.09	41.07	36.26	23.86
CHA	59.13	45.32	34.16	28.85
RY	47.31	47.46	41.40	23.46
HBC	80.42	47.71	40.12	25.12
CHL	68.75	48.14	28.55	30.53
VIP	30.58	54.50	40.50	28.49
NTES	21.05	55.03	44.81	27.75
LLTC	33.55	55.28	46.61	20.88
RIO	34.52	59.09	35.06	22.54
CHRW	58.82	59.45	44.03	25.59
BHP	79.22	61.58	46.51	23.51
ABB	29.67	64.12	48.77	22.83

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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
MCD	59.34	0.59	1.00%	2.22%	-0.24%	-1.82%	2.13%	10.50%	-3.76%	15.27%
KO	57.14	0.00	0.00%	-0.09%	-1.26%	1.06%	-6.47%	-3.46%	-10.40%	11.73%
MSFT	28.24	1.12	4.13%	-0.21%	-0.25%	-5.65%	-19.82%	-1.36%	-18.07%	-5.39%
PG	66.46	0.26	0.39%	-0.31%	1.51%	1.47%	-8.09%	-0.87%	-11.00%	6.92%
WMT	59.11	0.59	1.01%	-1.15%	2.02%	2.89%	26.03%	17.54%	22.56%	20.85%
JNJ	65.69	0.49	0.75%	-1.90%	-1.10%	-1.68%	-0.33%	5.02%	-2.97%	6.24%
CVX	98.06	-1.36	-1.37%	-1.93%	-0.81%	0.35%	4.92%	13.06%	6.84%	21.72%
MMM	75.55	0.28	0.37%	-2.52%	-2.84%	-2.80%	-8.66%	-3.66%	-12.82%	-11.16%
XOM	87.06	-1.55	-1.75%	-2.52%	-2.56%	-3.17%	-6.90%	1.27%	-5.29%	6.17%
CAT	80.50	1.57	1.99%	-2.70%	-2.75%	-2.72%	13.97%	6.98%	9.05%	3.10%
UTX	67.92	1.27	1.91%	-2.93%	-3.29%	-9.63%	-9.69%	-0.41%	-11.54%	-2.51%
DD	46.31	0.42	0.92%	-2.98%	-3.12%	-6.60%	5.88%	-0.58%	1.00%	-7.58%
HPQ	46.97	0.49	1.05%	-3.17%	0.13%	2.91%	-5.70%	-0.63%	-8.85%	4.24%
IBM	123.85	0.60	0.49%	-3.60%	-4.52%	-2.88%	18.30%	5.79%	14.18%	21.02%
DIS	33.24	-0.03	-0.09%	-3.62%	-1.69%	-4.48%	4.40%	5.83%	2.97%	-0.95%
BA	74.12	0.81	1.10%	-4.13%	-9.73%	-13.50%	-14.43%	2.31%	-14.73%	-23.18%
PFE	17.73	0.18	1.03%	-5.03%	-8.61%	-11.62%	-22.61%	-16.68%	-25.54%	-32.09%
HD	26.48	0.57	2.20%	-5.12%	-4.44%	-9.07%	1.42%	1.34%	-7.06%	-29.12%
AA	37.74	-1.58	-4.02%	-5.84%	-6.45%	-10.14%	4.46%	-0.13%	2.33%	-4.07%
VZ	36.63	-0.04	-0.11%	-5.98%	-4.53%	-5.96%	-15.23%	5.93%	-18.49%	-14.97%
C	19.89	0.68	3.54%	-6.27%	-9.75%	-14.45%	-31.22%	-6.22%	-36.80%	-62.19%
GE	29.05	-0.78	-2.61%	-6.47%	-5.19%	-10.64%	-20.97%	-14.46%	-22.01%	-21.59%
AIG	33.68	0.42	1.26%	-7.50%	-4.70%	-14.60%	-40.18%	-22.84%	-42.14%	-52.92%
GM	15.76	-0.36	-2.23%	-7.57%	-9.32%	-21.94%	-35.44%	-24.70%	-42.40%	-49.86%
INTC	22.05	0.24	1.10%	-7.62%	-4.71%	-7.51%	-13.02%	4.40%	-19.17%	-0.68%
T	36.39	0.25	0.69%	-7.78%	-9.48%	-8.13%	-11.24%	3.03%	-12.75%	-6.88%
BAC	29.44	0.60	2.08%	-7.97%	-14.91%	-20.00%	-27.42%	-20.50%	-32.21%	-40.72%
AXP	43.42	0.83