Sunday, August 22, 2010

Banks Keep Failing

Bear Hat

*Chart From Thechartstore.com
  • Banks Just Keep Going Under
  • Click Here To See Failed Bank List
  • 118 Banks Have Failed So Fair this Year
  • Over 800 Banks Are On The FDIC Watch List!

What To Watch Week of 8-23-2010

  • Existing Home Sales Aug 24th at 10:00am est
    • 4.6 million is what the market expects
    • Could be a large miss due to the hang over of the tax credit
    • Looking for a miss here
  • Initial Claims Aug 26th at 8:30am est
    • -485k is what the market expects
    • Could see over -500k Again
  • GDP - Second Estimate Aug 27th 8:30am est
    • 1.4 what the market expects
    • Looking for 1.3
    • If it is under 1.3, Watch for Q3 GDP to be in the RED!

Weekly Leading Index Points To Another RECESSION!

Bear Hat
*Chart from dshort.com, data from ECRI
  • Another Recession Around The Conner?
  • Maybe We Are Still In The Same One!
  • Fed Cannot Lower the Federal Funds Rate Any Lower
    • Fed Out of Ammo? 

SP-500 (Weekly) Weekend Update

Bear Hat

  • Still in a downward Bear Fork
  • Close above 1080 would start to give the bulls hope
  • Close above 1100 would be very bullish
  • Downward target of 968 in play at the moment