10 Bullish Charts, Signals, Indicators

Earlier this week, we discussed several anecdotal pieces of evidence that suggested we were closer to the bottom then the top.Today, we look at specific data and charts that can provide some insight as to how extreme these present levels are. All these suggest to us that we are increasingly close to a bottom that can be purchased for an upside trade of 20-30% from these levels.NOTE: We scale in over time, in 10% increments, and recognize that the bottoming process can take several months to several quarters to complete. Hence, slowly buying in is the key.

The Big Picture | 10 Bullish Charts, Signals, Indicators

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Global Stock Markets Index

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AUDSGD 10 Years Chart

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Unemp Rate

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Week Ahead in U.S. Financial Markets (October 6-10 2008)

The week of October 6-10 will see a light week of economic data that will be dominated by the Tuesday FOMC minutes from the September 16 meeting and Fed Chair Ben Bernanke speech that same day. Other data to be released during the week will be the Wednesday pending home sales report for August and the weekly initial claims data on Thursday. The week will close with the publication of the August trade balance and the September import price estimate. Depending on events over the weekend out of the US Congress and perhaps the Fed, the market conditions may see a bit of volatility during the early part of next week over economic concerns and redemptions in the hedge fund community.

Fed TalkAfter another earth shaking week in the global markets, market participants will be observing comments from a variety of current and former members of the Federal Reserve System that will be speaking during the upcoming week. The major event looks to be the 7 October speech by Fed Chair Bernanke, topic TBA at 12:30 EDT. Monday will see former US Fed Chair Paul Volker and former Fed Vice-Chair Roger Ferguson address the topic of global financial supervision in the global marketplace. Chicago FRB President Evans will address productivity trends in the manufacturing industry, also on Monday. Minneapolis FRB President Stern will speak on the "Repercussions from the Financial Shock" on Tuesday.

Safe Haven | Merk Economic Calendar: Week Ahead in U.S. Financial Markets (October 6-10 2008)

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Dollar Death Ray #2

The Street, and special circumstances, can temporarily push the dollar higher and Gold lower. However, with no self control existing at the Federal Reserve, the days of dollar appreciation are indeed numbered. With momentum traders at soon to be gone hedge funds pushing down Gold's price, investors should be stepping up to buy Gold. Momentum traders may punish Gold in the short-term, but with the Federal Reserve's balance sheet now out of control that situation can not persist. Total panic in Washington, as evident by the bank bailout bill, is giving investors a rare opportunity to preserve their wealth with Gold at these prices.

Safe Haven | Dollar Death Ray #2

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US Bank Index

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Price-to-Book Value of the Dow Industrials (Weekly Chart) (April 1988 to the Present) -

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Week Ahead in U.S. Financial Markets (September 29 - October 3 2008)

Financial Markets Summary For The Week of September 29-October 3The week of September 29-October 3 will see very important data that will provide information on the condition of the consumer and the labor sector. The major data risk for the week will occur with the Monday release of the August personal and income statement and the Friday publication of the September estimate of non-farm payrolls. We look for modest declines in real spending and a loss of -105K payrolls with the unemployment rate increasing to 6.2%. Tuesday will see the release of the September Chicago PMI, estimate of consumer confidence by the Conference Board and total vehicle sales. The Institute for Supply Management estimate of activity in the manufacturing sector will be published on Wednesday and their read of service sector activity will be released on Friday. Thursday will see the release of weekly claims and factory orders.

Safe Haven | Merk Economic Calendar: Week Ahead in U.S. Financial Markets (September 29 - October 3 2008)

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Short Doller

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