A full 70% of the American economy is said to be based on consumer activity. For many years, analysts suggested that the consumer would “hit the wall” and that the U.S. would suffer slower or negative growth as a result. For years if not decades those analysts were wrong. Why were they wrong? They were wrong because they failed to understand how long credit creation could induce average folks to live beyond their means.

Technical Analyst and associate Roger Wiegand, publisher of Trader Tracks, writes a brief summary of key markets each week. See what indicators are showing and get Rogers take on what the data means.

After spending much of the trading session in the red, the TSX rallied to post an 11.89 point gain to 11,722.07 on Friday, as the gold and oil prices moved lower, but the financials sector showed strength. The metals and mining sector was one of the day’s biggest decliners, falling 1.5%, while energy gave back 0.6% as crude oil for September delivery slid 97 cents to $73.46 a barrel.

This week on our radio program we had two guests that talked about current economic problems and gave some ways for us to deal with it and what government needs to do to fix it. We first talked to popular analysts Ian McAvity and then heard from Dr. Lawrence Kotlikoff on what the future hold and what needs to happen to make the best of it.

The TSX moved lower for the second day in a row on Wednesday, down 20.06 points to 11,696.63 as the oil price declined amid increasing inventories. Crude for September delivery slid 51 cents to $76.99 a barrel as the U.S. Energy Information Administration reported Wednesday that U.S. commercial crude inventories increased by 7.3 million barrels last week. The TSX energy sector ended the day down 1.3%. 

Daniel Estulin and Adrian Salbuchi appeared together as guests on this week’s show. Estulin, the premier expert on the Bilderberg Group, and Adrian Salbuchi, who tracks the moves by those same ruling elitists toward globalization and the removal of your personal sovereign rights and the removal of national sovereignty, provide a “progress” report toward the elite’s efforts to enslave us all economically and politically. 

After three sessions of gains, the TSX ended the day in negative territory on Tuesday, falling 29.38 points to 11,716.69, as gold prices tumbled and investors took in consumer confidence numbers on both sides of the border. 

The TSX started the trading week with a 31.86 point climb to 11,746.07, amid a lacklustre day for oil and gold, while the TSX Venture eked out an 8.48 point gain to close at 1,403.46.

Several TSX subsectors ended the day in positive territory, including the financials sector, which added 0.9% and energy, which climbed 0.7%, although crude for September delivery ended the day at $78.98 a barrel – unchanged from Friday’s close.

I depend on associate Roger Wiegand for some of the technical information that I use on a regular basis. In my weekly “Hotline” of my newsletter, “J. Taylor’s Gold, Energy & Tech Stocks”, I include the report that you see below. “ A Weekly Review of Key Markets by Roger Wiegand” This is good general data along with some of Roger’s comments. I believe it gives a good quick overview of what is happening in the markets.

What is Chen Buying? What is Chen Selling? is a newsletter that Chen Lin send out to subscribers on an as appropriate basis. He keeps subscribers updated on what he is seeing in the market and on particular stocks and sectors. He sends alerts out when he buys and sell so subscribers can act quickly to take full advantage of what he is doing.