Just like the previous day, almost from the open on Thursday, the US equity market was stronger. At the close, the DJIA (+212.67 +1.85% to 11715.18), S&P 500 (+19.02 +1.48% to 1300.68), and NASDAQ Composite (+29.18 +1.22% to 2411.64) were up about +1.5% on average. That’s about what you will earn in a money market fund in a year.

In Canada, the Toronto Exchange Composite gained +1.62% to 13750, and the Venture Board gained +0.71% to 1964.

The winning sectors in NY were Financials (XLF +4.0%) and Consumer Discretionary (XLY +2.3%), while Energy (XLE -1.8%) did a turn-about from the previous two days.

The Banks ($BKX +4.5%) and Broker-Dealers ($XBD +4.0%) led the way. Airlines ($XAL) soared +8.7% due to the lower oil price. NatGas ($XNG -1.5%) was soft.

A 52-week low was set by China Mobile (CHL (@57.42). What a terrible three month performance in the market for CHL.

Of the extreme Cara 100 stocks, the winners were RY +5.3%, OXPS +4.8%, VIP and WBK +4.6% and CCL +4.3%. CHL -6.0%, POT -2.8%, CHA -2.3% and DELL -2.3% were losers, but, except for CHL, volumes were down. DELL reported disappointing earnings and operating margins.

The long bond ($USB) was quiet again, almost flat (-0.01%) at 118.78. The T-Bill yield strengthened to 1.700, but is still well below the benchmark Fed Funds rate, so the market is saying that traders are nervous and generally unprepared to make longer-term investment commitments.

Earlier today, the Asia-Pacific equity markets were all up sharply across the board. Call it the Obama factor. The closes were: Australia’s All Ords index (+1.40% to 5215.5); Shanghai (+2.01% to 2397.4); Hong Kong (+1.38% to 21261.9); India’s Sensex (+3.67% to 14564.5); and Japan’s Nikkei (+2.39% to 13072.9). These are major bullish moves.

In Europe at about 9:00am ET, markets are not as strong, with the French CAC +0.5% to 4485, German DAX +0.02% to 6422, and the UK FTSE +0.4% to 5624.

Yesterday the forex market was quiet, with the Euro weakening a tad: the $USD gained +0.13% to 77.12, and the Euro lost -0.19% to 1.4701.

Crude Oil ($WTIC +0.28/bbl to 118.43) and precious metals ($GOLD +0.03/oz to 834.03) were quiet. [Apparently my data here was wrong yesterday]

At 9:00am ET today, the Euro/USD was up a bit to 1.4710, while the $USD is down to 77.11. Crude Oil futures ($WTIC) are up +1.61/bbl to 117.20, mostly due to Gustav. The DJIA Sept futures are down -38 to 11657. Traders are looking forward to the long weekend.

At 9:06am ET, Spot Gold, palladium, platinum and silver futures are a tad stronger, at 835.85 (actually down less than a dollar at the moment), 298.0, 1472, and 13.76 respectively, which are stronger along with oil and a slightly lower $USD.

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Comments & Outlook

Without 1-800-HOPE and a $90 billion free-money program from the Administration, today’s US Personal Income and Spending report turned out to be a disaster. Yesterday, the public was told that the US economy is really growing at a +3.3% rate, revised up from +1.9%, but the people don’t see much more than the little bit of found money that fell from trees in DC in Q2.

The equity market is being pumped by Humungous Bank & Broker so they can save their bacon. Day traders don’t mind, but further out, the serious weaknesses in the US economic and financial systems will have to be recognized and dealt with.

I remain unchanged in my outlook for a long-term cycle bottom of 10000/2000 for the DJIA and NASDAQ Composite. There are continuous fights between the Bulls and Bears, so this battle is extended. For many of the leaders of HB&B, this is a reprieve in that they can defer taking write-offs while they constantly work behind the scenes to repair their capital issues and restructure their operations.

[note that the Knobias tables downloaded by Jeff and presented below are different than the ones I use, which are the correct ones. Unfortunately, Jeff is still using a file that is six months old and shows LEH in the Cara 100 watch list. No, LEH is on my deathwatch list maybe as the company fell apart in my eyes a long time ago. I apologize for the confusion.]

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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
WMT	59.88	81.81	68.44	63.13
NTES	26.55	74.40	75.66	67.43	Sell alert (trig. 3 days ago [on 2008-08-26 at $26.30, +0.95% chg], after a 3 day DZ)
DNA	98.45	72.95	84.81	63.26	Sell alert (trig. 7 days ago [on 2008-08-20 at $97.99, +0.47% chg], after a 18 day DZ)
QCOM	53.97	71.62	63.25	45.93
JNJ	71.41	71.31	80.74	66.64	Sell alert (trig. 4 days ago [on 2008-08-25 at $70.80, +0.86% chg], after a 1 day DZ)
PG	71.01	61.04	79.40	61.02
TGT	53.88	52.53	68.74	72.08
KSS	49.93	51.50	72.11	60.68
ERJ	33.73	41.00	57.71	70.08
UBS	22.16	19.86	48.05	71.94

At least one RSI value <30:

Ticker	Last	RSI-7M	RSI-7W	RSI-7D	Zone
WFMI	18.25	12.56	15.13	37.61	Buy alert (trig. 2 days ago [on 2008-08-27 at $18.31, -0.33% chg], after a 2 day AZ)
GOL	8.81	15.74	25.89	40.06	Buy alert (trig. 1 days ago [on 2008-08-28 at $8.81, +0.00% chg], after a 1 day AZ)
TM	88.70	18.76	39.34	48.42
UBS	22.16	19.86	48.05	71.94
TTM	9.79	22.32	36.32	53.17
TGP	22.69	23.16	29.77	52.31	Buy alert (trig. 5 days ago [on 2008-08-22 at $22.16, +2.39% chg], after a 3 day AZ)
SNDK	15.17	24.16	35.07	48.10
DB	86.00	26.97	32.31	47.65	Buy alert (trig. 5 days ago [on 2008-08-22 at $85.69, +0.36% chg], after a 1 day AZ)
KB	54.65	27.75	35.22	44.15
GRMN	35.55	28.91	30.24	41.50
VCP	21.20	33.17	20.35	42.07
CCJ	30.31	36.83	25.94	50.24
CHL	57.82	37.38	21.27	35.97

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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
C	19.08	0.96	5.30%	9.22%	5.53%	2.09%	-34.02%	-11.67%	-23.71%	-58.65%
AXP	40.39	1.57	4.04%	9.13%	5.73%	8.81%	-20.87%	-12.48%	-9.07%	-29.57%
AIG	21.51	1.51	7.55%	8.75%	-5.74%	-17.43%	-61.79%	-38.38%	-57.11%	-67.02%
BAC	31.43	1.78	6.00%	8.23%	4.14%	-4.47%	-22.51%	-7.20%	-24.12%	-36.71%
JPM	38.88	1.74	4.68%	7.23%	2.83%	-4.31%	-7.80%	-9.29%	-8.39%	-10.83%
T	32.23	1.03	3.30%	4.78%	3.57%	4.61%	-21.39%	-18.43%	-10.37%	-16.91%
MRK	36.40	0.67	1.88%	4.54%	1.28%	10.64%	-36.55%	-5.85%	-19.47%	-26.03%
BA	66.34	1.82	2.82%	4.39%	2.42%	8.56%	-23.41%	-19.23%	-21.77%	-30.64%
CAT	71.68	2.12	3.05%	4.34%	1.98%	3.11%	1.49%	-13.84%	-3.64%	-3.34%
GM	10.34	0.14	1.37%	4.23%	-8.90%	-6.59%	-57.64%	-39.71%	-57.80%	-64.56%
UTX	66.72	1.67	2.57%	3.91%	0.91%	4.28%	-11.29%	-5.00%	-7.55%	-7.33%
HD	27.42	0.25	0.92%	3.20%	0.92%	15.07%	5.02%	-0.04%	-1.05%	-21.77%
MSFT	27.94	0.38	1.38%	2.80%	0.11%	8.63%	-20.67%	-0.85%	0.04%	0.04%
VZ	35.47	0.76	2.19%	2.60%	2.25%	4.20%	-17.91%	-6.09%	-4.60%	-14.57%
DD	45.27	0.93	2.10%	2.51%	0.07%	3.33%	3.50%	-4.95%	-4.17%	-5.92%
DIS	32.59	0.83	2.61%	2.39%	0.80%	7.38%	2.36%	-3.75%	0.15%	-1.84%
WMT	59.88	0.59	1.00%	2.36%	3.06%	2.15%	27.68%	4.89%	18.11%	37.97%
INTC	23.59	0.18	0.77%	2.34%	-3.16%	6.31%	-6.94%	0.51%	15.13%	-1.54%
MMM	72.50	1.78	2.52%	2.24%	-0.74%	3.00%	-12.34%	-5.72%	-9.15%	-17.26%
HPQ	47.33	0.53	1.13%	1.89%	4.02%	5.65%	-4.98%	1.74%	-2.51%	0.96%
PG	71.01	0.95	1.36%	1.59%	1.86%	8.45%	-1.80%	9.47%	6.03%	9.75%
IBM	124.58	1.20	0.97%	1.29%	-1.86%	-2.66%	19.00%	-3.83%	8.10%	11.23%
XOM	81.18	0.71	0.88%	1.03%	4.82%	0.93%	-13.19%	-10.23%	-9.17%	-2.19%
MCD	62.89	0.81	1.30%	0.93%	-1.12%	5.18%	8.24%	7.16%	15.14%	29.30%
AA	32.40	0.32	1.00%	0.81%	1.69%	-4.00%	-10.32%	-22.06%	-17.18%	-8.37%
GE	28.83	0.61	2.16%	0.28%	-2.34%	1.91%	-21.57%	-5.63%	-14.83%	-24.23%
JNJ	71.41	0.20	0.28%	0.18%	0.31%	4.29%	8.34%	10.06%	13.87%	16.59%
PFE	19.27	0.19	1.00%	-0.52%	-2.58%	3.21%	-15.89%	-0.16%	-14.55%	-21.25%
KO	53.12	-0.67	-1.25%	-0.73%	-3.45%	3.15%	-13.05%	-7.52%	-10.66%	-0.26%
CVX	87.18	0.56	0.65%	-1.51%	0.69%	3.10%	-6.72%	-13.18%	-2.07%	3.42%

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	3M %Change	6M %Change	12M %Change
XLF	21.35	0.83	4.04%	7.02%	0.90%	-1.16%	-24.72%	-13.46%	-20.25%	-35.54%
IYZ	24.08	0.53	2.25%	3.17%	1.47%	3.13%	-17.45%	-8.96%	-1.27%	-25.54%
XLI	35.66	0.82	2.35%	3.03%	0.73%	3.42%	-7.40%	-7.26%	-4.32%	-6.58%
XLY	30.82	0.70	2.32%	2.77%	-0.23%	8.44%	-4.29%	-3.51%	-4.05%	-13.57%
SPY	130.19	1.56	1.21%	1.85%	0.45%	2.65%	-10.17%	-6.54%	-4.87%	-9.41%
XLU	38.38	0.23	0.60%	1.67%	4.27%	0.79%	-8.81%	-6.71%	-0.95%	1.00%
SMH	29.16	0.36	1.25%	1.32%	-4.24%	4.52%	-7.02%	-10.77%	-0.98%	-19.67%
XLK	23.27	0.14	0.61%	1.17%	-1.48%	4.35%	-10.91%	-6.99%	2.92%	-7.51%
IYH	67.17	0.60	0.90%	0.34%	-1.12%	3.05%	-4.18%	5.46%	0.96%	-0.64%
XLB