SPY weekly

12.10.2009

• Jobless Claims Rise More than Expected; Trade Gap Narrows

  The tally of newly laid-off workers seeking jobless benefits rose more than expected, after falling for five straight weeks, showing that improvements in the labor market may be gradual. Unemployment May Hit 12%: Garret

• AIG Units Omit Name and Reclaim Lost Business
• Lilly Gives No Hint on Profit Goals When Patents Expire
• Barclays Denies 'Secret' Gains in Lehman Deal
• Obama Accepts Prize, Says War Sometimes Justified
• Foreclosures Decline, but Drop May Be Temporary
  • Slideshow: Highest State Foreclosure Rates
• Soros Sure Greece Won't Be Allowed to Default
• Bank of England Leaves Asset-Buying, Rates Unchanged
• Brown, Sarkozy Call for Special Tax on Bank Bonuses
• US House to Debate Financial Regulation Overhaul

The rally from July 2009 is showing gradual negative divergences in price and in breadth, e.g. macd on the SPY weekly chart.

• Global Credit Problems Are Hitting Home for US Investors

  What happens in Dubai may stay in Dubai—for now, at least. But with credit problems surfacing in other countries, US investors are concerned that those problems could soon hit closer to home. Who's Afraid of the Dollar?

• Relief Plan Yields Only 10,000 Permanent Modifications ~ Only about 10,000 homeowners have received permanent loan modifications under the Obama administration's mortgage relief plan, evidence of continuing woes for the government's effort to stem the foreclosure crisis.
  
  That means fewer than 2 percent of the 650,000 homeowners enrolled in the program as of October had their mortgage payments permanently lowered to more affordable levels. The results spotlight the limited success lenders are having in getting borrowers through the trial period, according to an oversight panel report released Wednesday.

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Considering Americans are just about emptied their pockets,
the trillion size sharks can only pick each other or China/Asia if they can.
12.09.2009
$COMPX 2183.73 10.74 0.49% 1,902,358
$INDU 10337.05 51.08 0.50% 1,132,016
$INX 1095.94 4.00 0.37%