Today's Forecast: Variable-to-Stormy

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``We've seen the end to the upward trend'' for commodities, Nicholas Sargen, chief investment officer of Fort Washington Investment Advisors Inc. in Cincinnati, said in a Bloomberg Radio interview Aug. 22. ``The global economy is weakening, not just the U.S. economy. All the evidence coming out of Europe is that the economy now is stagnating. Japan and parts of Asia are weakening as well. That's just too powerful to be overcome.''

Countries that make up half the world's economy face a recession, Goldman Sachs Group Inc. said Aug. 21. The U.S., Japan, the 15-nation euro area and the U.K. are ``either in recession or face significant recession risks in the months ahead,'' Goldman's London-based international economist Binit Patel said in a report. A year since the U.S. housing slump sparked about $500 billion in credit market losses for banks globally, the world's largest economies are now stumbling as rising borrowing costs combine with high commodity prices."

From the big picture, we turn to the daily action. Storm-watch is on top of the agenda. Whether tropical, financial, or geopolitical, storms are the drivers of the late days of August. It's just a question of where they hit and how much or little damage they inflict.

Happy Trading.