Joe Weisenthal of Money Game The closely-watched S&P Case-Shiller housing index comes out at 9:00, and it will provide a nice glimpse into whether or not housing is indeed double-dipping. Most economists expect the report to look like the last few: a year-over-year decline but a slight improvement in the pace of change. But as Kelly Evans at WSJ...

Phil’s Stock World As you can see from our chart set, our major indices are trading very much in synch, more likely than not propelled by trade-bots that already have the next 25 trading days already mapped out to take us through the end of the quarter.  Of course you can argue that it’s perfectly natural for 8 of 9 different indexes to follow...

Submitted by Nic Lenoir of ICAP-H/T Tyler Copper has recently retested the former channel support now resistance. AUDUSD has tested and rejected the 50-dma, USDCLP (highly correlated to copper as Chile’s main source of revenue is… well copper!) looks like it is completing the second shoulder of an inverted H&S. USDBRL has pulled back...

Evan Lazarus of T3Live.com What had been one of the market’s leaders during the run-up from the March lows now looks weaker than the broader market. In today’s Trade for Thought, I took a look at a longer-term chart of Apple (AAPL) in order to gauge which way it will break next. Traders, be sure to check out the web’s first-and-only...

Scott Redler of T3Live When the S&P 500 was trading at around 1,050ish, we were looking for 1,085-1,095 as a target and now we’re at 1,110. It’s amazing how this market is like an elevator. We are 70 handles off the lows and everyone says there is no action. With that said, 1,112 is a resistance area, then 1,120-1,125 is huge. I WILL...

H/T Ilene Phil’s Stock World Courtesy of Vincent Fernando at Clusterstock In a Financial Times opinion piece, George Soros adds his massive weigh to the I-told-you-so chorus trashing the euro’s. While he makes an old, fundamental argument against the euro, this long-forgotten criticism seems more valid than ever right now: FT: [Emphasis added]...

Joe Weisenthal of money game Gold’s action hasn’t been particularly jawdropping of late unless you consider what it’s been up against. Last week there were two events that were bad for gold: Bernanke tightening and the IMF dumping, and yet it held strong, and in recent action it’s staye solidly above the $1110 line, which had...

Last week was strong with stocks and commodities moving up sharply. As nice as it was to see a rally, I still have my doubts whether this move has legs behind it. As prices moved higher throughout the week we saw volume become thinner and thinner. Basic technical analysis of the recent price action, when looking at the hourly charts is pointing to a...

Zero Hedge Much has been said lately about the record cash balance on the books of S&P 500 companies (ex. financials- those are a different story altogether). Bullish pundits claim that this money will be used for all sorts of M&A, stock buybacks, expansions, etc., to make the point that companies can’t wait to go out spending, so we should...

Citi Investment Research’s two sentiment measures continued to nose dive last week according to strategist Tobias Levkovich. Both the ‘Panic/Euphoria’ model and ‘Cyclical Expectations’ model are now approaching their 2009 lows. According to the firm, this implies further near-term pressure for equity markets. Citi: Our...

Courtesy of Mish Recent data shows the economic slump in the UK and Eurozone is accelerating to the downside at a rapid pace. Let’s review a few articles supporting that view. UK Business lending Falls At Record Pace Angela Monaghan at the Telegraph reports Lending to British businesses falls at record pace Lending to British businesses fell by £4.3bn...

Joe Weisenthal of Money Game For fans of waves and long-term historical repetitions, we present a reader’s long-term Euro observations. Have at it: Since Nixon abandoned the Gold Standard in Aug 1971 (TSY SCY Connally to the French: “ The dollar is our currency but it is your problem”), the Euro (synthetic reconstruction prior to 2001, courtesy...

The Market Ticker The WSJ carried an interesting (and misleading) opinion piece today: Regulatory reform that can improve competition and consumer choice in financial services is long overdue. But no new federal bureaucracy such as the Obama administration’s proposed Consumer Financial Protection Agency (CFPA) is needed to bring that about. More...

Courtesy of The Pragmatic Capitalist In a note to clients this morning David Rosenberg made an interesting comparison of today’s market to 2007.  He says: “So what does the current backdrop resemble in a modern-day sense?  The summer and fall of 2007.  Think about it.  The S&P 500 has been jerking around  on either side of 1,100 for...