Best of the Week
Most Popular
1. 2019 From A Fourth Turning Perspective - James_Quinn
2.Beware the Young Stocks Bear Market! - Zeal_LLC
3.Safe Havens are Surging. What this Means for Stocks 2019 - Troy_Bombardia
4.Most Popular Financial Markets Analysis of 2018 - Trump and BrExit Chaos Dominate - Nadeem_Walayat
5.January 2019 Financial Markets Analysis and Forecasts - Nadeem_Walayat
6.Silver Price Trend Analysis 2019 - Nadeem_Walayat
7.Why 90% of Traders Lose - Nadeem_Walayat
8.What to do With Your Money in a Stocks Bear Market - Stephen_McBride
9.Stock Market What to Expect in the First 3~5 Months of 2019 - Chris_Vermeulen
10.China, Global Economy has Tipped over: The Surging Dollar and the Rallying Yen - FXCOT
Last 7 days
Stock Market VIX Volaility Analysis - 19th Mar 19
FREE Access to Stock and Finanacial Markets Trading Analysis Worth $1229! - 19th Mar 19
US Stock Markets Price Anomaly Setup Continues - 19th Mar 19
Gold Price Confirmation of the Warning - 18th Mar 19
Split Stock Market Warning - 18th Mar 19
Stock Market Trend Analysis 2019 - Video - 18th Mar 19
Best Precious Metals Investment and Trades for 2019 - 18th Mar 19
Hurdles for Gold Stocks - 18th Mar 19
Pento: Coming QE & Low Rates Will Be ‘Rocket Fuel for Gold’ - 18th Mar 19
"This is for Tommy Robinson" Shouts Knife Wielding White Supremacist Terrorist in London - 18th Mar 19
This Is How You Create the Biggest Credit Bubble in History - 17th Mar 19
Crude Oil Bulls - For Whom the Bell Tolls - 17th Mar 19
Gold Mining Stocks Fundamentals - 17th Mar 19
Why Buy a Land Rover - Range Rover vs Huge Tree Branch Falling on its Roof - 17th Mar 19
UKIP Urged to Change Name to BNP 2.0 So BrExit Party Can Fight a 2nd EU Referendum - 17th Mar 19
Tommy Robinson Looks Set to Become New UKIP Leader - 16th Mar 19
Gold Final Warning: Here Are the Stunning Implications of Plunging Gold Price - 16th Mar 19
Towards the End of a Stocks Bull Market, Short term Timing Becomes Difficult - 16th Mar 19
UKIP Brexit Facebook Groups Reveling in the New Zealand Terror Attacks Blaming Muslim Victims - 16th Mar 19
Gold – US Dollar vs US Dollar Index - 16th Mar 19
Islamophobic Hate Preachers Tommy Robinson and Katie Hopkins have Killed UKIP and Brexit - 16th Mar 19
Countdown to The Precious Metals Gold and Silver Breakout Rally - 15th Mar 19
Shale Oil Splutters: Brent on Track for $70 Target $100 in 2020 - 15th Mar 19
Setting up a Business Just Got Easier - 15th Mar 19
Stock Market Elliott Wave Analysis Trend Forercast - Video - 15th Mar 19
Gold Warning - Here Are the Stunning Implications of Plunging Gold Price - Part 1 - 15th Mar 19
UK Weather SHOCK - Trees Dropping Branches onto Cars in Stormy Winds - Sheffield - 15th Mar 19
Best Time to Trade Forex - 15th Mar 19
Why the Green New Deal Will Send Uranium Price Through the Roof - 14th Mar 19
S&P 500's New Medium-Term High, but Will Stock Market Uptrend Continue? - 14th Mar 19
US Conservatism - 14th Mar 19
Gold in the Age of High-speed Electronic Trading - 14th Mar 19
Britain's Demographic Time Bomb Has Gone Off! - 14th Mar 19
Why Walmart Will Crush Amazon - 14th Mar 19
2019 Economic Predictions - 14th Mar 19
Tax Avoidance Bills Sent to Thousands of Workers - 14th Mar 19
The Exponential Stocks Bull Market Explained - Video - 13th Mar 19
TSP Recession Indicator - Criss-Cross, Flip-Flop and Remembering 1966 - 13th Mar 19
Stock Investors Beware The Signs Of Recession / Deflation - 13th Mar 19
Is the Stock Market Still in a Bear Market? - 13th Mar 19
Stock Market Trend Analysis 2019 - 13th Mar 19
Gold Up-to-Date' COT Report: A Maddening Déjà Vu - 12th Mar 19
Save Fintech? Ban Short Selling. It's Not That Simple - 12th Mar 19
Palladium Blowup Could Expose Scam of Gold & Silver Futures - 12th Mar 19
Next Recession: Concentrating Future Losses & Bringing Them Forward In Time As Profits - 12th Mar 19
The Shift of the Philippine Peso Regime - 12th Mar 19
Theresa May BrExit Back Stab Deal Counting Down to Resignation, Tory Leadership Election - 12th Mar 19
Phase 1 of Stock Market Correction - 11th Mar 19
Long Awaited Stock Market Pullback has Finally Arrived - 11th Mar 19
US Presidential Cycle and the Stock Market - Video - 11th Mar 19
Stock Market Elliott Wave Analysis Trend Forercast - 11th Mar 19
Chinese Economic Data Shakes the Global Stock Markets - 11th Mar 19
The Fed Is Playing a Dangerous Game - 11th Mar 19
The Stock Market Has Called the Fed’s Bluff, What’s Next? - 11th Mar 19
Turkey Holiday Bazaar Extreme Jewelry Price Haggling - Fethiye Market - 11th Mar 19

Market Oracle FREE Newsletter

Stock and Finanacial Markets Trading Analysis Worth

80 U.S. Bankrupt Bailed Out Banks This Year, Hitting Depression Era Level

Stock-Markets / Financial Markets 2009 Aug 22, 2009 - 07:25 PM GMT

By: Anthony_Cherniawski


Best Financial Markets Analysis ArticleGeorgia and Alabama banks with combined assets of $927 million were seized by regulators, pushing the tally of failed U.S. lenders this year to 80 amid the worst economic crisis since the Great Depression.


State regulators shut CapitalSouth Bank of Birmingham, Alabama, and First Coweta Bank of Newnan, Georgia, and the U.S. Office of Thrift Supervision closed ebank, an Atlanta-based Internet lender. The three banks had $841 million in deposits, and the failures will cost the Federal Deposit Insurance Corp. $262 million, the agency said today in news releases. A total of 18 Georgia banks collapsed this year, 23 percent of the total.


Long-term budget deficit $2 trillion higher than stated.

A White House budget review set for release Aug. 25 will show cumulative deficits over the next decade amounting to $9 trillion, up from $7.1 trillion that the administration predicted in May, the official said on condition of anonymity because the figures haven’t been made public.

The VIX may be optioned. 

VIX.png--Investors should buy options expiring in the next few months to protect against a potential spike in prices (in the VIX) amid concern “significant economic headwinds” may damp a recovery, according to Morgan Stanley.    “Financial conditions, eventual cooling production and cautious consumers” signal that recent improvement in some economic indicators is “unlikely to spill over into a stronger overall recovery,” Morgan Stanley analysts, including New York- based Sivan Mahadevan, wrote in a report to clients.







The SPX reaches for the trendline…


--The SPX rallied to a new high, exceeding the recovery rally from the Crash of 1929 in size and time. 

The indexes may have put in a 1/2 Trading Cycle bottom.  This extends the 23 week cycle low at least two more weeks, along with the Primary Cycle bottom, which is now in its window for a low during the same time period.  Options expiration was rescued from another debacle, but may be making the decline worse by squeezing it into a tighter period.  Critical Support is at 999.  Trend resistance is at 1021-1025.  We may see a reversal pattern once below resistance.  You can see the Broadening Top trendline is at 850, which implies a drop below that level.






 The NDX near a turning point.

NDX 2.png--The NDX may have reached a critical resistance point today.  Trendlines on a weekly chart are seldom accurate down to the point, but one may safely say that the NDX is very near a strong turning point.  Trend resistance is at 1640 and the rally has been hugging its trendline all day.  Critical Support at 1598 is the level below which things become more bearish in the NDX.  The next target is below 1395, which is the July low. 








GLD wrapping up a symmetrical triangle.

GLD.png-- GLD rallied just above Critical Support Friday at 92.45.  The defining pattern, however, is the symmetrical triangle.  A rally above 95 would let us know that a very strong rally is about to begin in GLD.  However, a drop below 91.00 may signal some short-term pain for the gold bugs.  The reason why is that there is often a false breakout in these triangles in the opposite direction before the rally begins.  So, a sell-off in stocks may also trigger the false break in GLD.  This is a time to be careful.







Is the Oil Bubble still inflating?

USO.png--USO has been in a rally mode this week.  The pattern appears to be an expanding triangle formation.  The final wave may fail at any time it exceeds its prior high, so extreme caution is advised.  It has stayed above critical support at 37.18 this week, but I am not long.  If the market rally on Monday, USO may participate.  I have noted intra-day that there may be a reversal pattern given this afternoon in USO.







TLT is taking a pause.

TLT.png-- Treasuries fell, with 2-year notes sliding the most in two weeks, as existing home sales surged in July and Federal Chairman Ben S. Bernanke said the global economy is “beginning to emerge” from recession.

Critical Support is at 94.70.  TLT missed it breakout by a buck, but may have another go at it very soon.  It closed at a potential support today and trend support is close by at 93.00. 







UUP retesting its bullish wedge

UUP.png--UUP has spent the last several days retesting the bullish wedge formation and its own Critical Support at 23.41.

I am still bullish against 23.04.  Bullish wedges tend to be fully retraced, so I expect a strong rally to develop in UUP.

In summary, wedges triangles and broadening tops are all coiling actions that are building up to strengthen the next move.  It is obvious that their reversals may be delayed, but that just tightens the spring for a greater push back when it breaks out.   I hope you all have a relaxing weekend!


Tyler Durden outed!

A 30-year-old New Yorker who was barred from the securities industry last year may be behind an increasingly popular financial blog known as, which is catching flack for its obsession with anonymity.
Daniel Ivandjiiski, whose most recently listed address is on the Upper East Side, was barred last September by the financial industry's self regulatory authority, FINRA, for insider trading.
Ivandjiiski is also suspected of being one of the founders of controversial financial blog, sources tell The Post.



Our Investment Advisor Registration is on the Web

We are in the process of updating our website at to have more information on our services. Log on and click on Advisor Registration to get more details.

If you are a client or wish to become one, please make an appointment to discuss our investment strategies by calling Connie or Tony at (517) 699-1554, ext 10 or 11. Or e-mail us at .

Anthony M. Cherniawski,
President and CIO

As a State Registered Investment Advisor, The Practical Investor (TPI) manages private client investment portfolios using a proprietary investment strategy created by Chief Investment Officer Tony Cherniawski. Throughout 2000-01, when many investors felt the pain of double digit market losses, TPI successfully navigated the choppy investment waters, creating a profit for our private investment clients. With a focus on preserving assets and capitalizing on opportunities, TPI clients benefited greatly from the TPI strategies, allowing them to stay on track with their life goals

Disclaimer: The content in this article is written for educational and informational purposes only.  There is no offer or recommendation to buy or sell any security and no information contained here should be interpreted or construed as investment advice. Do you own due diligence as the information in this article is the opinion of Anthony M. Cherniawski and subject to change without notice.

Anthony M. Cherniawski Archive

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules