At the close, the S&P 500 (-17.85 -1.37% to 1282.83) and NASDAQ Composite (-44.12 -1.83% to 2367.52) were also knocked down following three days of higher prices. The Russell 2000 small cap index also dropped -1.11% to 739.50.

In Canada, the Toronto Exchange Composite managed to gain +0.15% to 13771, while the Venture Board gained +1.01% to 1983.6.

The only winning sector in NY on Friday was the Financials (XLF +0.1%), which got a small boost from Goldman Sachs (GS +1.3%). But, the important point is there was extremely low volume again.

Of the extreme Cara 100 stocks, the winners were PDA +2.7% and BDK +1.5%, while DELL -13.8%, SNDK -4.7%, RIMM -4.0%, ADBE -3.3% and ORCL -3.0% were the big losers. Note, these are all Tech companies. The concern is that DELL managed to sustain revenues, but only with lower prices, which squeezed margins, which might be happening across the tech space.

The long bond ($USB) was down -0.50% at 118.19. The T-Bill market remained quiet at a yield of 1.690.

As noted yesterday, 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 the markets were also up, but not as much, with the French CAC +0.47% to 4482.6, German DAX +0.03% to 6422.3, and the UK FTSE +0.63% to 5636.6.

At the close for the week, the forex market was quiet, with the Euro weakening a tad (-0.16% to 1.4678) and the $USD up +0.25% to 77.31. The Yen gained +0.69% to 91.62, but the British Pound dropped -0.38% to 182.32 and the Cdn Loonie plunged -1.05% to 115.46 on news that a federal government election is about to be called for the Fall. Traders are thinking another minority government situation is not healthy for the Cdn Dollar.

Crude Oil Oct contracts closed at 115.46, down -$0.13/bbl. $GOLD lost -$2.00/oz to close the week at 835.20.

At the close, Spot Gold, palladium, platinum and silver futures were: 829.85, 303, 1482, and 13.60. The plat and pall were a bit stronger and the gold and silver a bit weaker due to modest strength in the $USD.

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Comments:

This is a long weekend in North America. Traders will be watching the Republican Party convention get off to a strange start with Gustav the headliner and a relative political unknown as running mate for John McCain.

I’ll return Sunday with the Week In Review, but I can say now that this should have been a vacation week. Not much happened, but there were a few subtle changes underway that I’ll be discussing.

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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	59.07	81.29	63.84	52.21
NTES	26.11	73.51	68.22	57.51	Sell alert (trig. 4 days ago [on 2008-08-26 at $26.30, -0.72% chg], after a 3 day DZ)
DNA	98.75	73.21	85.72	66.50	Sell alert (trig. 8 days ago [on 2008-08-20 at $97.99, +0.78% chg], after a 18 day DZ)
CEO	155.76	51.58	52.26	70.64
ERJ	33.95	42.10	59.97	72.03

At least one RSI value <30:

Ticker	Last	RSI-7M	RSI-7W	RSI-7D	Zone
WFMI	18.31	14.90	22.57	39.42	Buy alert (trig. 3 days ago [on 2008-08-27 at $18.31, +0.00% chg], after a 2 day AZ)
GOL	8.90	20.63	32.31	43.66	Buy alert (trig. 2 days ago [on 2008-08-28 at $8.81, +1.02% chg], after a 1 day AZ)
TGP	22.75	22.38	28.91	54.13	Buy alert (trig. 6 days ago [on 2008-08-22 at $22.16, +2.66% chg], after a 3 day AZ)
SNDK	14.46	22.46	31.51	38.55
UBS	21.89	22.67	45.47	66.52
TTM	9.86	25.17	34.98	55.96
SBUX	15.56	26.93	45.97	45.45
GRMN	34.76	27.58	29.48	34.56
TM	89.59	27.80	41.05	54.77
DB	84.87	28.58	29.57	42.28	Buy alert (trig. 6 days ago [on 2008-08-22 at $85.69, -0.96% chg], after a 1 day AZ)
KB	54.80	29.45	40.64	44.97
VCP	21.12	30.96	21.00	40.76
CHL	56.72	35.67	17.47	32.22
CCJ	30.08	36.45	28.74	47.64
RIO	26.55	38.21	27.96	51.35
KO	52.07	38.77	37.41	27.78
GOOG	463.29	38.92	33.88	28.60
VIP	24.03	39.32	29.27	56.25
DELL	21.73	43.23	37.66	17.85
BBD	18.41	45.52	29.60	44.47

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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
AIG	21.49	-0.02	-0.09%	8.15%	-6.52%	-19.78%	-61.83%	-39.19%	-54.14%	-67.50%
C	18.99	-0.09	-0.47%	4.69%	2.37%	0.64%	-34.34%	-13.84%	-19.91%	-59.55%
BAC	31.14	-0.29	-0.92%	3.08%	1.43%	-6.57%	-23.22%	-10.00%	-21.64%	-38.40%
T	31.99	-0.24	-0.74%	2.63%	1.04%	5.09%	-21.98%	-20.42%	-8.15%	-20.42%
AXP	39.68	-0.71	-1.76%	2.29%	1.56%	6.70%	-22.26%	-15.12%	-6.19%	-31.75%
JPM	38.49	-0.39	-1.00%	2.18%	1.10%	-5.57%	-8.73%	-11.66%	-5.31%	-12.78%
MRK	35.67	-0.73	-2.01%	1.13%	-1.36%	7.25%	-37.82%	-8.35%	-19.48%	-28.55%
CAT	70.73	-0.95	-1.33%	0.65%	0.54%	3.80%	0.14%	-14.56%	-2.21%	-5.74%
DIS	32.35	-0.24	-0.74%	0.47%	-0.46%	7.55%	1.60%	-4.32%	-0.19%	-4.54%
HD	27.12	-0.30	-1.09%	0.04%	-1.49%	13.47%	3.87%	-2.13%	2.15%	-25.80%
BA	65.56	-0.78	-1.18%	0.02%	1.72%	5.72%	-24.31%	-20.16%	-20.81%	-32.34%
HPQ	46.92	-0.41	-0.87%	-0.30%	2.92%	6.73%	-5.80%	0.02%	-1.78%	-3.10%
XOM	80.01	-1.17	-1.44%	-0.36%	3.81%	0.36%	-14.44%	-10.45%	-8.05%	-6.12%
AA	32.13	-0.27	-0.83%	-0.46%	1.01%	-0.03%	-11.07%	-20.35%	-13.49%	-11.71%
VZ	35.12	-0.35	-0.99%	-0.48%	0.46%	3.29%	-18.72%	-8.47%	-3.30%	-16.84%
UTX	65.59	-1.13	-1.69%	-0.59%	-1.81%	3.19%	-12.79%	-6.61%	-6.98%	-11.78%
WMT	59.07	-0.81	-1.35%	-0.62%	-0.51%	2.29%	25.95%	1.95%	19.12%	33.67%
DD	44.44	-0.83	-1.83%	-0.78%	-2.76%	2.61%	1.60%	-7.03%	-4.27%	-8.75%
MMM	71.60	-0.90	-1.24%	-0.94%	-2.57%	2.07%	-13.43%	-7.92%	-8.67%	-19.33%
JNJ	70.43	-0.98	-1.37%	-1.39%	-1.26%	3.42%	6.86%	6.04%	13.67%	13.85%
MSFT	27.29	-0.65	-2.33%	-1.98%	-1.87%	7.27%	-22.52%	-3.60%	0.33%	-4.55%
CVX	86.32	-0.86	-0.99%	-2.02%	2.46%	2.38%	-7.64%	-12.68%	-0.39%	-0.44%
MCD	62.05	-0.84	-1.34%	-2.16%	-2.48%	3.81%	6.80%	4.32%	14.67%	26.14%
IBM	121.73	-2.85	-2.29%	-2.56%	-3.66%	-3.88%	16.28%	-6.15%	6.91%	6.25%
PG	69.77	-1.24	-1.75%	-2.57%	-2.56%	7.42%	-3.51%	6.57%	5.42%	7.14%
INTC	22.87	-0.72	-3.05%	-2.64%	-5.73%	2.33%	-9.78%	-1.17%	14.52%	-8.85%
PFE	19.11	-0.16	-0.83%	-3.24%	-4.31%	2.74%	-16.59%	-1.49%	-14.23%	-22.54%
GE	28.10	-0.73	-2.53%	-3.50%	-5.70%	-0.39%	-23.56%	-8.29%	-15.21%	-27.41%
GM	10.00	-0.34	-3.29%	-4.21%	-10.55%	-2.25%	-59.03%	-42.46%	-57.04%	-67.31%
KO	52.07	-1.05	-1.98%	-4.23%	-5.43%	-2.01%	-14.77%	-10.02%	-10.93%	-2.69%

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	0.00	0.00%	3.24%	0.23%	-1.57%	-24.72%	-14.67%	-17.50%	-36.48%
IYZ	23.92	-0.16	-0.66%	0.84%	-0.58%	4.05%	-18.00%	-10.98%	1.23%	-27.65%
XLI	35.22	-0.44	-1.23%	-0.20%	-1.18%	2.83%	-8.54%	-8.85%	-3.29%	-9.76%
XLB	39.60	-0.43	-1.07%	-0.25%	0.33%	0.61%	-4.12%	-10.41%	-3.37%	2.27%
XLU	37.72	-0.66	-1.72%	-0.34%	2.03%	2.17%	-10.38%	-9.06%	-0.03%	-3.06%
XLE	74.50	-0.63	-0.84%	-0.35%	5.12%	0.01%	-6.29%	-12.48%	-2.04%	8.28%
XLY	30.53	-0.29	-0.94%	-0.42%	-2.21%	7.50%	-5.19%	-6.06%	-2.02%	-17.04%
SPY	128.79	-1.40	-1.08%	-0.66%	-1.06%	2.13%	-11.14%	-8.01%	-3.72%	-12.12%
IYH	66.48	-0.69	-1.03%	-1.73%	-2.81%	2.86%	-5.16%	3.09%	1.25%	-2.49%
XLP	28.10	-0.33	-1.16%	-1.89%	-3.00%	2.74%	-1.02%	-1.13%	3.50%	4.15%
XLK	22.80	-0.47	-2.02%