THE CHAPMAN REPORT – Technical Commentary

This week…

• The US stock markets fell this past week for the 3rd week in a row. Not even the highly successful LinkedIn IPO could save it. Dominique Straus-Khan the head of the IMF was forced to resign his position because of the sex scandal but it appeared to not have any impact on the markets.

• Bond prices rose again as the US is still acting as a safe haven from the European debt woes. Greece downgraded, Italy on negative watch and a government is about to fall in Spain.

• Gold rose and the precious metals stocks had their best week in past few. The US$ was weaker but so was the Cdn$ as oil production was cut in the west due to the fires.

• Energy prices rose and the energy stocks eked out gains. Hard to say at this time what the impact will be from the fires in Alberta.

NOTE: A full report will resume next weekend.

D.C.