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