Current weakness in the Market Vectors Gold Mining ETF (AMEX: GDX) is forming a major, multi-month top.

President Bush has dropped his threat of a veto for the housing bill that will bail out both Fannie Mae and Freddie Mac.

Heading into this week Toni Hansen was looking for a larger daily correction off the 20-day sma resistance. The congestion along highs, however, broke on the upside on Tuesday following the gap recovery and it's now looking as though that pullback is going to take a bit longer to develop.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for July 23.

Oil fell $5 a barrel this morning, as Tropical Storm Dolly is not expected to have as much of an effect in the Gulf of Mexico as experts had previously thought.

A speech by Philadelphia Fed President Charles Plosser drove the US dollar higher on Tuesday morning, as he signaled that he would be voting to increase interest rates at the next Federal Open Market Committee meeting.

The index futures are trading significantly lower following Monday's earnings news, so chances are high, Toni Hansen writes, for a large downside gap. In such a case, if the market breaks the first 15-minute lows, then odds are higher for at least a trend morning lower, if not a trend day.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for July 22.

James Mound notes that the year 2008 has begun with wild swings in underlying volatility and epic commodity price moves, furthered by global commodity shortages and fund buying. The only question that remains is, will it continue?

The Telegraph warns this morning of a global financial meltdown. The U.S. current fiscal crisis is the push over the edge that the global economy has feared.