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Not a lot of change in the Sector SPDRs this week. Financials, Utilities and Energies look to be the weakest at the moment, as they hang around the 50-day average:
The numbers as we move into the holiday season:
Sector
Symbol
8 Week % Chg.
4 Week % Chg.
1 Week % ...
Other
Florida checks in with the first of the night, #124 on the year:
Commerce Bank of Southwest Florida, Fort Myers, FL
Stocks
Foot Locker
A fairly lethargic expiration day, with the indices starting lower and working their way back up around the flat line by closing time. Sound familiar?
Dow Industrials
10318.16
-14.28
-0.14%
S&P 500
1091.38
-3.52
-0.32%
Nasdaq Comp.
2146.04
-10.78
-0.50%
Russell ...
Commodities
NYSE
Natural Gas
Gold
Silver
A step in the right direction last night by the House Finance Committee.
In an unprecedented defeat for the Federal Reserve, an amendment to audit the multi-trillion dollar institution was approved by the House Finance Committee with an overwhelming and bipartisan 43-26 vote on Thursday ...
Government
Federal Reserve
Barney Frank
Ron Paul
That’s the opinion of Edward Harrison of Credit Writedowns (among others), in a post at naked capitalism.
And he assumes, as many other already do too, that the FHA is the next big taxpayer bailout:
The fact is the F.H.A is the next Fannie Mae. If you’re looking and wondering where the ...
Stocks
Fannie Mae
Some Larry McMillan for your expiration Friday morning (click here to view column with charts):
The positive news was that $SPX broke out over 1100 last Monday, convincingly moving well above that resistance level, and doing so with strong volume (a 90% up volume day). The negative news is that ...
Other
Martin Goldberg agrees that there are some “Internal Problems” starting to threaten the health of this market:
As the market averages stage yet another rally, market internals continue to degrade. It is quite possible that the advance of the major averages can continue into the ...
Other
Large-cap indices are still holding up, but the Russell got bumped hard off the 50-day today.
This chart of the 3-month T-bill yield is worth another look after today’s action. Something is not right with this picture.
Charts courtesy of StockCharts.com
Other
Dollar gaps up, stocks gap down. Dollar comes down off highs, stocks come up off lows. Rinse and repeat — just another ‘dollar day’ here at the ol’ ballpark.
The Dow held up the best, but the Russell still got plunked — large-caps outperforming small, ...
Commodities
NYSE
David Dollar
Gold
Silver
Natural Gas
From Zero Hedge:
We’ll have whatever Timmy is drinking. Even as Mr. Geithner, in prepared congressional testimony, claims that the economy is “recovering”, the MBA announced yet another record number of mortgage delinquencies. At over 14%, the number of American homeowners ...
Other
…in the Senate health care bill.
More on the cosmetic surgery tax here.
Links via Instapundit.
Other
As Joe Saluzzi has been pointing out on Twitter nearly every week, money continues to flow OUT OF domestic equity funds as the indices grind their way higher.
Other
Wondering why the ‘ordinary’ technicals aren’t working very well these days?
Maybe the authors of the ‘predatory’ algorithms can give you some clues…
Boiled down to its base elements … Predatory algos, which are distinctly different from the Pips-Hunter ...
Stocks
And you thought it was bad when the 3-month T-bill was yielding a paltry 0.05%. No, investors have found that vehicle so ‘attractive’ that today they rushed in and bought ‘em up like they were candy, pushing the yields down to 0.03%. Pretty soon they’ll be begging the ...
Government
Treasury Bills
More chop — mostly in the red today, with an obligatory spike in the last few minutes to push the indices back up near the flat line. Lackluster volume again:
Dow Industrials
10426.31
-11.11
-0.11%
S&P 500
1109.80
-0.52
-0.05%
Nasdaq Comp.
2193.14
-10.64
-0.48%
Russell ...
Commodities
NYSE
Gold
Silver
Natural Gas
From Minyanville:
The global economy reminds me of a marathon runner who runs too hard and hurts himself. But now he has another race to run. So he’s injected with some serious, industrial-quality steroids, and away he goes.
As the steroids kick in, his pace accelerates, as if the injury never ...
Other
Not that economic fundamentals mean a hill of beans anymore, but the housing starts number out this morning wasn’t real impressive — of course, it was ‘unexpected’:
The 11 percent plunge in starts to an annual rate of 529,000, the lowest level since April, followed a ...
