Last week we saw the financial market including commodities move higher which was great to see. But the recent run up has brought both equities and commodities to their key resistance levels. With Gold, Oil and the SP500 trading near key resistance points we will most likely have some sharp movements this week so buckle up tight! Gold – Daily...

The Market Ticker The dichotomy of the following two pieces is rather sobering, when one considers the implications. First, from George Soros: “The collapse of the financial system as we know it is real, and the crisis is far from over,” Soros said today at a conference in Vienna. “Indeed, we have just entered Act II of the drama.” Soros,...

Tim Iacono Here’s another chart derived from the Federal Reserve’s latest Z1 Flow of Funds Report showing an improving situation for homeowners – home prices having now stabilized a bit with outstanding mortgage debt on the decline, partly due to losses being taken by banks. Just think how much lower both of those curves would be if not...

Courtesy of Mish Economists never expect bad news. Once again they were surprised by weak economic reports, this time by poor retail sales. Bloomberg reports Retail Sales in U.S. Fall as Consumers Boost Savings Sales at U.S. retailers unexpectedly dropped in May, signaling consumers boosted savings as employment slowed and stocks fell. Purchases...

The battle between the Bulls and Bears continues with very choppy trading action. The rally from a potential double bottom is cause for concern for the Bears, however the Bulls are in a similar situation as they have to prove their case with sustained market action. Click on chart to view the video

By Jordan Roy-Byrne, CMT Escalating sovereign debt problems in Europe has prompted some to wonder if another “Lehman” type collapse is on the horizon. As a result, some precious metals observers have grown cautious, fearing a replay of the events of two years ago. While it is always prudent to be cautious with an extremely volatile sector like...

CalculatedRisk On a monthly basis, retail sales decreased 1.2% from April to May (seasonally adjusted, after revisions), and sales were up 6.9% from May 2009 (easy comparison). This graph shows retail sales since 1992. This is monthly retail sales, seasonally adjusted (total and ex-gasoline). The red line shows retail sales ex-gasoline and...

Courtesy of Tyler Durden at Zero Hedge The Federal Reserve has released the most recent Flow Of Funds Statement (Z.1). Plenty of data in there and we will provide a more in depth analysis later, but here are the highlights. Total household Net Worth increased by $1.1 trillion from $53.4 trillion at Q4 2009, to $54.6 trillion at March 31, 2010....

Yahoo Finance Video 3: Prechter: Bank Reform Will Shrink Credit and Kill the Economy The Senate version of financial regulation is bad for business on Wall Street and, according to the Wall Street Journal, could cut the profits of major financial institutions by roughly 20%. Find out why Robert Prechter thinks it’s also bad for the economy in...

Tyler Durden Odd market action today, in which curious rumors surfaced out of quant land, that Goldman was being used as a gold surrogate for liquidation purposes. We closed at last Friday intraday high: should the market continue upward, the NFP news from last week that the economic situation is now indicative of a double dip will be fully priced...

Jeff Clark, Casey’s International Speculator Shareholders were treated to a big win last month when Brett Resources (V.BBR) was bought out by Osisko Mining (T.OSK), giving investors a triple from our initial recommendation. We talked with Brett Chairman Ron Netolitzky to get the story behind how he and his team made Brett a success, along...

Bespoke: In order to eliminate the noise in the daily readings of the TRIN, we often look at the ten-day average. This helps to give us a clearer picture of short-term sentiment. In the chart below, we highlight the 10-day average TRIN over the last several years. As shown, at a current level of 2.53 there has only been one other period since...

Tyler Durden Yesterday, we wrote: “Full blown capitulation from the Goldman FX (strategic not tactical) team: the firm goes from a $1.35 target on EURUSD to $1.15. Score one more golden star for Goldman-Client relations. On the other hand, Thomas Stolper is officially advising clients to sell their euros to Goldman. There is no clearer signal...

Tim Iacono This highly unsatisfying report at Bloomberg adds some mainstream media perspective to Fed chief Ben Bernanke’s gold price commentary yesterday that came in response to a question from Rep. Paul Ryan during House Budget Committee testimony as detailed here. U.S. Federal Reserve Chairman Ben S. Bernanke said gold prices, which surged...

The Market Ticker “When the economy recovers”, says Mr. Walker on ToutTV this morning. Uh, when David?  Was the jobless report a bit of cold water on this crap? In the week ending June 5, the advance figure for seasonally adjusted initial claims was 456,000, a decrease of 3,000 from the previous week’s revised figure of 459,000....