Gary Dorsch's picture

In today’s highly sophisticated financial marketplace, there is no longer any need to employ Federal Reserve officials to figure out the most appropriate target level for the federal funds rate. Instead, it’s already done by remote control...

Chris Puplava's picture

Not only did oil break $100/barrel despite widespread disbelief, it is now knocking on the door of $120/barrel. The strength in oil prices is even taking the most ardent energy bulls by surprise despite a U.S. slowdown.

Frank Barbera CMT's picture

In today’s observation, we take a moment to update the stock market outlook from a purely technical perspective. As a result, today’s report is a bit chart intensive but seeks to characterize the current market from a technical point of view, using Breadth, Momentum Volume and Sentiment, the big four of TA and of course, the biggest of them all, price.

Rob Kirby's picture

Last week saw China renew a contract with Potash Corp. of Toronto which calls for shipment of 1 million metric tons of potash at $576 per metric ton, which appears to be a $400 per metric ton increase over the 2007 price.

John Needham's picture

Did you get the important turns in the S&P and Dow on Tuesday? You needed to know the high probability turn numbers to benefit from these great trades. Daniel got the numbers from an Angel and wrote them down. I got the numbers from his Book. You can get all the Daniel numbers from the Danielcode Online. You can read Daniel's Book frequently. There is much to learn.

JR Nyquist's picture

In the French Revolution Louis XVI became hated, so he was guillotined. Then the man most credited with the monarch’s downfall, Danton, became hated; so Danton was guillotined at the instigation of Robespierre who was also hated and guillotined.

Tim W Wood CPA's picture

Obviously, the definitions of Bull and Bear markets differ from person to person. My definition is based on the works of the great Dow theorists, Charles H. Dow, William Peter Hamilton and Robert Rhea. As a result of my study of Dow Theory combined with my study of cycles, which are not a part of Dow theory, I have drawn some very obvious conclusions about the nature of Bull and Bear markets.

Martin Goldberg CMT's picture

Expensive gas and the generally inflationary condition of the economy are taking their toll on the US consumer. This is confirmed in a big way by the technical charts of mid-range broad line retailers where their trends are clearly in the downward direction.

Chris Puplava's picture

By Chris Puplava – Last week's Observation provoked a lot of responses from both the commodity bulls and bears. I had hoped to get ahead of the likely bear comments by addressing several of the arguments that they would likely claim but ran...

Frank Barbera CMT's picture

While we all know that China is ascending as the world's premiere growth economy, with GDP growth rates scaling low double digits, the forward view for China has many serious concerns.