Obama trivializes the real war on women. He says it is part of the religious freedom of Pakistan, Iran, and Syria and we should respect their religion. The abusers of women in Pakistan, and Iran, and Syria are criticized but are never punished. But Obama would shut down Catholic hospitals in the USA that do not dispense contraceptives. Is that a warped concept of women's rights and religious freedom or what? It certainly is not the American concept. Here is a Google search on images for “the real war on women.”

http://www.google.com/search?hl=en&sugexp=les%3Bcesh&cp=21&gs_id=6&xhr=t&q=the+real+war+on+women&bav=on.2,or.r_gc.r_pw.r_qf.&bpcl=35277026&biw=815&bih=829&wrapid=tljp135029998323400&um=1&ie=UTF-8&tbm=isch&source=og&sa=N&tab=wi&ei=XfF7UNLvJYP40gHW9oCoBA#q=the+real+war+on+women&um=1&hl=en&sa=N&tbm=isch&bav=on.2,or.r_gc.r_pw.r_qf.&fp=827d32baae73ec64&bpcl=35277026&biw=1680&bih=853


The “gay men” in Iraq and other Mid East countries are called “puppies,” and are rounded up and shot but Obama says it is part of their religious freedom. Yet Obama is using his executive decree to shut down Catholic hospitals in the USA that help the poor… because they do not perform abortions. Is that Obama policy alienating to Religious Hispanics and other people who believe in religious freedom or not? Obama has a warped concept of religious freedom and it certainly is not the American concept.

Obama’s alien belief system and Moslem economic and social policies are destroying America just as it destroys the socialist states that educated Obama before he came to America.

Third-quarter earnings season goes into high gear this week with earnings reports from many financial and other bellwethers.

Economic reports are also due out for many sectors this week.

WSJ predicts metals and oil prices are peaking.

Speculators reduced net-long positions across 18 U.S. futures and options contracts last week, the lowest since Aug. 14, U. They are betting on a decline in commodities now.

The Rasmussen Reports Sunday Presidential Tracking pre-debate poll shows; Mitt Romney earns 49% of the vote while President Obama attracting support from 47% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins.

http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll


World Economies
Bank of Israel Governor Stanley Fischer said the world is “awfully close” to a recession, adding to concern raised by major disagreements at the annual meetings of the International Monetary Fund last week.

Indian inflation accelerated to a 10-month high of 7.81 percent in September after climbing 7.55 percent in August,

Police in the West African country of Ghana killed one Chinese citizen in a raid and detained more than 100 other Chinese on suspicion of illegal gold mining. Ghana has faced an influx of illegal small-scale miners from China as global gold prices climb. About 30 percent of Ghana’s total output is produced by an estimated 1 million miners who use picks and shovels.

Asking prices for homes in London surged to a record this month.

China’s stock market is now almost as low as it was when Lehman Brothers collapsed when it was discovered they had liar loans hidden off the books the way Obama is hiding the Quantitative Easing money off the Treasuries Dept Books. China’s funds are looking more attractive.

http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;

Emerging markets seem to be forming a market bottom.

http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine


Emerging market composite indicates it may be forming a market bottom or a low.
http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;

German stocks gave a sell signal in 2011 and have to rise a few more percent to give a buy signal again. Choose 2 or 5 years.

http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart2:symbol=^gdaxi;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on


The Swiss Market is also testing moving averages. It gave a sell signal last year. It is at a new high for 2012 and closing in on a new buy signal.

http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined


American Economy
This Week

MBA Mortgage Index 10/06 -1.2% down tremendously from 16.6% Fewer people buying houses

Wholesale Inventories Aug 0.5% still increasing, was 0.6% Increasing is not good.

Job openings in the US dropped for a second straight month in August, indicating companies are reluctant to beef up payrolls through year-end without faster economic growth.

Initial unemployment claims 10/06 339K down from 367K very good

Continuing Claims 09/29 3273K improved from 3281K

AM Trade Balance Aug -$44.2B worsened from -$42.0B

Export Prices ex-ag. Sep 0.7% inflation from 0.4%

Import Prices ex-oil Sep 0.2% inflationary from -0.2%

AM Crude Inventories 10/06 1.672M increased -0.482M good

Friday
PPI Sep 1.1% still high due to energy costs but down from 1.7% last month

Core PPI Sep 0.0% flat from 0.2% showing no inflation in producer prices

Mich Sentiment Oct 83.1 great improvement from 78.3 due to Mitt Romney effect


This Week
Oct 15 8:30 AM Retail Sales Sep

Oct 15 8:30 AM Retail Sales ex-auto Sep

Oct 15 8:30 AM Empire Manufacturing Oct

Oct 15 10:00 AM Business Inventories Aug

Oct 16 8:30 AM CPI Sep

Oct 16 8:30 AM Core CPI Sep

Oct 16 9:00 AM Net Long-Term TIC Flows Aug

Oct 16 9:15 AM Industrial Production Sep

Oct 16 9:15 AM Capacity Utilization Sep

Oct 16 10:00 AM NAHB Housing Market Index Oct

Oct 17 7:00 AM MBA Mortgage Index 10/13

Oct 17 8:30 AM Housing Starts Sep

Oct 17 8:30 AM Building Permits Sep

Oct 17 10:30 AM Crude Inventories 10/13

Oct 18 8:30 AM Initial Claims 10/13

Oct 18 8:30 AM Continuing Claims 10/6

Oct 18 10:00 AM Philadelphia Fed Oct

Oct 18 10:00 AM Leading Indicators Sep

Oct 19 10:00 AM Existing Home Sales Sep


Market outlook Oct 15, 2012

Helms said America is the healthiest horse…in the glue factory. The US Government eats up 42% of the US GDP.  Mitt Romney says it should be 25%.  Reagan got it down to 22% and that was with much more military spnding.  So Romney's goal is realistic and the deficit reduction will be enormous.

The fiscal cliff is still an uncertainty unless Romney wins Congress as well as the presidency.

Both rails and bulk trade are acting up again. The rails diverged from the industrials this month and the bulk trade could be from oil speculators filling up the barges with oil rather than trade goods. There seems to be a lot of uncertainty now.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;


The DJR must still confirm the DJI for there to be a new DOW buy signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today.
Http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;



The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. The one-year cycle is still sell but the three months now gives hope for a future buy signal. While it shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected we have hope of an anticipated recovery if Obama is thrown out.

http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;


The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed to meet even the last 3-month shoulder of the head and shoulder sell signal. But bulk trade is rising and October looks like a turn around beginning. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=1m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;


The rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years. We have get Obama out and stop his QE Ponzi scheme.

http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined


The USA VIX is rising. A low VIX normally precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally end. The driving force this year is the election and whether the Obama loses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=



Well the Baltic Dry Index blip peaked again. China probably hit bottom and may be ready to bounce.

http://www.bloomberg.com/quote/BDIY:IND/chart



Stock market update:
Asian markets followed were up slightly last night with China down -0.3%, Hong Kong up 0.1%, India up 0.2%, Japan up 0.5%.

European markets are up half way through their day in a range of +0.4% to +1.4%.

American market futures are up about 0.4 % in after-hour trading at 7:00 AM EST. This indicator does not correlate with anything.