For the DJIA index, the first hour was fine, and then there was a spike down for an hour, followed by side-tracking for most of the session until about 3:15pm. The final 45 minutes was a killer, once again. There is no confidence in the market as traders are waiting for another shoe to drop among the big banks.

In NY, the worst hit sectors were the Banks ($BKX -11.1%) and Broker-Dealers ($XBD -12.7%). Zero right into this sector to see where the market problems lie.

Among the big banks, the worst hit was Citigroup (C -23.4%). GE Capital pulled GE down -10.0% on bigger volume.

At the close, the DJIA (-427 -5.07% to 7997.28), S&P 500 (-52.54 -6.12% to 806.58) and NASDAQ Composite (-96.85 -6.53% to 1386.42) were all hammered.

In Canada, the Toronto Composite dropped -345 -3.91% to 8490.56, while the Venture Board was down -20 -2.69% to 730.09.

In NY, the leading sectors were Utilities (XLU -2.1%) and Consumer Staples (XLP -2.6%). That was the best of the lot. Financials (XLF -10.5%) was by far the worst.

The extreme traders in the Cara 100 were, for the winner (yes, just a single gainer on the day) ABX +0.3%, and the losers, Brunswick Corp (BC -19.5%), which had the day before been up +20.2%, which shows only that traders are playing the NYSE like a casino.

The US long bond ($USB) gained +1.61% to 122.09, which represents a yield of under 4%. Yields plunged yesterday. T-Bill’s were yielding just 0.065%, which further underscores the degree of risk aversion in the equity market these days.

On the forex front, the $USD was up +0.54% to 87.67. The Euro was down -1.11% to 124.88. The Pound -0.06% to 149.56 was unchanged, but the Yen +1.30% to 104.31 and the Loonie -1.80% to 79.72 were extreme movers.

$GOLD lost a bit to 736.00 (-$2.20/oz).

$WTIC (Crude Oil) lost -$1.75/bbl to 54.10.

Overnight, the Asia-Pacific equity markets were all hammered: the Shanghai Composite (-1.67% to 1983.8) was best off. The Japanese Nikkei (-6.89% to 7703.0), Hong Kong (-4.04% to 12298.6), Australia (-4.32% to 3332.6) and India (-3.68% to 8451.0) all traded lower on bank viability issues and economic recession concerns.

At 9:20am ET (vs 8:08am ET) today, the French CAC was down -3.26% (-2.37%), German DAX -2.69% (-1.69%), and UK FTSE -2.61% (-1.60%), which is worsening. Banks are continuing to pull equity markets down.

At 9:25am ET (vs 8:08am ET) today, the gold, palladium, platinum, and silver spot prices were: 742.20 (748.02), 180.5 (178), 796 (809), and 9.14 (9.37).

Crude Oil is weak at 51.20 at 9:15am ET, down from 52.56 at 8am ET.

The DJIA futures have dropped 7881, down from 7980 at 8:10am ET.

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Comments & Outlook

I think we can finally say that this week represented the Trade of the Generation, which is to Sell bonds and Buy Gold/Goldminers. Today for bonds -- before the close -- could be a major sell.

If there is a trader in the universe who has bought US treasuries for reasons of income rather than panic/safe haven, then there won’t be a second. How would anybody expect to make money in the 5-year Treasury yielding 2.09%? The 10-year yielding 3.39% and the 30-year yielding 3.97% reflect only the ridiculous prices as traders have panicked from other assets.

The $XAU goldminers index hit a high of 209 in March-08. Eight months later, the index was often in the 64 to 72 range. GG yesterday closed at 18.62. In late September it was double that. Within a year, this stock will likely be at least +100% higher than the close yesterday.

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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