In NY, the DJIA (+401.35 +4.68% to 8979.26), S&P 500 (+38.59 +4.25% to 946.43) and the NASDAQ Composite (+89.38 +5.49% to 1717.71) closed in an upbeat mood.

The Toronto Composite and Venture Board, unfortunately, closed down: the Composite index dropped -53.9 -0.58% to 9269.97, while the Venture Board dropped -53.4 -5.39% to 937.79, which in the case of the high-risk stocks has been a two-day loss of -11.5%.

Earlier in the day today, international markets were mixed: Australia (-1.1% to 3944.8), Shanghai (+1.1% to 1930.7), Hong Kong (-4.4% to 14554.2), India (-5.7% to 9975.4), and Japan (+2.8% to 8693.8) are all over the board. I suspect some heavy margin calls are happening in Hong Kong and India where many traders are punters.

Japan, which is by far the most important Asia-Pacific market, plunged -11.4% on Wednesday, but in the four days it was open this week, the Nikkei Dow was up about +6.6%, which is a remarkable weekly gain.

In NY yesterday, the best performing sectors were Consumer Discretionary (XLY +6.6%), and Helathcare (XLV) and Tech (XLK), both up +5.2%. The laggards were: Basic Materials (XLB +0.7%), and Consumer Staples (XLP +1.0%).

Among industry group movers, the Airlines ($XAL +21.0%) had a monster gain, plus NatGas ($XNG +10.1%), while the Goldminers ($XAU) dropped -7.2%, which is a two-day drop of almost -19%. That might be the bottom for $XAU (88.32 close with an intra-day low of 84.47).

As for the Cara 100, there many winners, including: GOL +44.0%, WBK +17.0%, NUE +15.9%, GGB +12.3%, and IBN +11.8%. The losers included: SLW -11.5%, GG -10.7%, ABX -10.1%, TGP -7.5%, MBT -5.8% and VIP -5.7%. None of the main winners or losers except NUE is US-headquartered.

The US long bond gained +0.27% to 114.39, as yields dropped a bit. There was a big pick-up in the T-Bill yield as hot money ran into equities. If the equity bull runs here, watch these yields pick up quickly. The governments will have crowded out the private sector, so in the scramble for funds, the yields and rates will pick up.

The $USD gained +0.27% to 82.31, and the Euro lost -0.50% to 134.45. The Yen lost -1.49% to 98.38 in volatile trading. The Pound (+0.10% to 173.06) and the Cdn Loonie (+0.62%) both recovered a bit from the previous day’s losses. Except for Wednesday, the Pound has had a bullish week so far.

Yesterday, the price of Crude Oil ($WTIC) plunged -8.46/bbl to close at 70.26. $GOLD dropped -$34.50/oz to 804.50. As these two markets threatened the 60’s and the 700’s, which a couple weeks ago were unthinkable; many traders lost their nerve and threw in the towel.

In futures this morning, the $USD is at 82.72 (a tad weaker in the past 90 minutes) and Euro is a bit stronger at 134.10. $WTIC is at 71.09 and $GOLD has dropped to 789.

Presently, at 9:05am ET (vs 6:45am ET today), the prices for gold, palladium, platinum and silver: 785.985 (789.95); 168.5 (164); 860 (867); and 9.30 (9.63). The precious metals are being hammered down for the end of the week.

The DJIA futures at this time are at 8827 (-139), although two and a half hours ago, the level was 8759, so there is a strengthening.

In Europe at 9:10am ET (vs 6:45am), the French CAC +0.8% (+1.6%); German DAX +1.3% (+0.8%) and UK FTSE 100 +1.9%) (+0.7%) shows strengthening, except in Paris.

Google (GOOG) impressed I think. In fact, there are many quarterly reports of companies this week that show that results are superior to what the public is being led to believe is happening in business today. The media and the analysts seem to be playing to the consumers who are obviously hurting.

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Comments & Outlook

Gold bullion, futures and common stocks are, in my view, finally putting in a bottom. I don’t think the broad equity market can rally far unless the precious metals and energy stocks are included. They may take a day or two more to kick into gear, but I feel they will. The massive reflation (ie, expansion of credit) will lead to higher commodity prices, which started in the agriculture contracts yesterday. In a day or so, I do anticipate the action to extend to the oils and golds, probably after the options expire on Saturday. So, it might be good to take on some new long calls today on any weakness in prices.

The weather here in Nassau is beautiful – sunny and without the strong breeze of the past couple days. It’s definitely a beach and boating kind of day.

Enjoy your day. After so much turmoil, I’m sure you are looking forward to the weekend.

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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:

At least one RSI value <30:

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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 15: Dow 30 List

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

You can do this table yourself by entering the following string into the Summary window at Billcara2.com and then clicking on the link for Performance. XLE XLB XLI XLY XLP IYH XLF SMH IYZ XLU XLK SPY . You can also add more ETF’s – up to 30 in total.

For a list of components to any ETF, go to the AMEX.com web site, and click on ETF's.

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10 (energy: XLE)

Table 2: Senior oil & gas equities

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15 (basic materials: XLB)

Table 3: Senior metals and steel equities

Table 13: Senior gold equities

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20 (industrial: XLI)

Table 4: Senior capital goods makers and transportation

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25 (consumer discretionary: XLY)

Table 5: Senior consumer discretionary equities

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30 (consumer staples: XLP)

Table 6: Senior consumer staples equities

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35 (healthcare: IYH)

Table 7: Senior healthcare equities

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40 (financial: XLF)

Table 8: Senior financial company equities

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45 (technology, semiconductor: SMH)

Table 9: Senior technology equities

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50 (telecom: IYZ)

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55 (utilities: XLU)

Table 12: US Utilities

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International Equity Market USD-denominated ETF Review

Table 14: International equities perspective

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Japanese equity market ETF: EWJ

Here is the Japanese (EWJ) equity market ETF Daily data charts:

Interactive EWJ Daily data:

Interactive EWJ Weekly data:

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U.K. equity market ETF

Here is the United Kingdom (EWU) equity market ETF Daily data charts:

Interactive EWU Daily data:

EWU Daily data:

Interactive EWU Weekly data:

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Canada's equity market

Here is the Canadian (EWC) equity market ETF Daily data charts:

Interactive EWC Daily data:

Interactive EWC Weekly data:

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Bonds & Yields Review

Table 10: Yahoo Finance U.S. Treasury Debt, Municipal and Corporate Bond Yields

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Here is the $USB 30-year Treasury Bond chart.

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US Bond Funds -- Interactive Daily Data Charts

SHY Daily data series chart:

IEF Daily data series chart:

TLT Daily data series chart:

AGG Daily data series chart:

LQD Daily data series chart:

TIP Daily data series chart:

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Table 11: Interest-sensitive securities

Consumer Finance -USA -- Interactive Daily Data Charts

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Commodities Review

$CRB Index

Open Futures Contracts

Interactive Chart of Daily CRB Commodities Index:

Interactive Chart of Weekly CRB Commodities Index:

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Oil Review

Here is the e-miNY Mar-08 Crude Oil chart.

Interactive Chart of Daily Crude Oil:

Interactive Chart of Weekly Crude Oil:

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Gold & Precious Metals Review

Spot gold chart for the week

Interactive Chart of Daily Gold EOD Continuous Contract Index:

Interactive Chart of Weekly Gold EOD Continuous Contract Index:

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Spot silver chart for the week

Interactive daily data

Interactive Chart of Daily Silver EOD Continuous Contract Index:

Interactive chart of the Silver Bullion index.

Interactive Chart of Weekly Silver EOD Continuous Contract Index:

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Spot platinum chart for the past three days

Interactive Chart of Daily Platinum EOD Continuous Contract Index:

Interactive Chart of Weekly Platinum EOD Continuous Contract Index:

Interactive chart of the Platinum metal index.

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Spot palladium chart for the week

Interactive Chart of Daily Palladium EOD Continuous Contract Index:

Interactive Chart of Weekly Palladium EOD Continuous Contract Index:

Interactive chart of the Palladium metal index.

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Interactive Chart of Weekly Copper EOD Continuous Contract Index:

Interactive Chart of Daily Copper EOD Continuous Contract Index:

Interactive chart of the Copper metal index.

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Table 13: Senior gold equities

To watch the moves in precious metal miners, you will have to monitor the individual stock charts, preferably in real-time, as follows:

NEM ABX AU GFI GG HMY AUY KGC BVN
Interactive Daily data
Interactive Weekly data

MDG LIHRY AEM BGO IAG EGO RGLD GOLD CDE GRS
Interactive Daily data
Interactive Weekly data

CBJ SSRI SIL NG KRY UXG GRZ TSE_HRG TSE_GUY TSE_AGI
Interactive Daily data
Interactive Weekly data

NXG GSS MNG DROOY MFN RNO RANGY MRB CLG
Interactive Daily data
Interactive Weekly data

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Here are the key Silver miners and the SLV ETF:

SLV SIL CDE HL PAAS SSRI SLW MGN

Interactive Daily data
Interactive Weekly data

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Here are the Weekly and Daily Data charts of the indexes:

Interactive Chart of Daily U.S. Goldminers Index:

Weekly U.S. Goldminers Index:

Interactive Chart of Weekly U.S. Goldminers Index:

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The U.S. goldminer share trust ETF trades under the ticker symbol GDX.

Here are the U.S. Goldminer ETF (GDX) index Weekly and Daily data charts:

GDX Daily data:

GDX Weekly data:

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The Toronto Exchange-listed goldminer iUnits S&P/TSX Capped Gold Index ETF trades under the ticker symbol TSE:XGD. Yes, just like GDX on the AMEX, you can trade XGD on Toronto.

Here are the Weekly and Daily data charts for the TSX Goldshares (XGD) index:

Interactive Chart of XGD Daily data:

Interactive Chart of XGD Weekly data:

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Forex Review

Here is the chart of the week's trading in the $USD.

Interactive Chart of Daily U.S. Dollar Index:

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Interactive Chart of Daily Euro Dollar Index, priced in USD:

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Daily British Pound Index:

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Daily Japanese Yen Index:

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Daily Canadian Dollar Index:

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Wrap-up