Fed Deficit, Fed Reserve, Financial market, Tea Party

The low market volume today suggests that traders are waiting for a confirmation as markets are trading near at ST supports to SPX 1045 +/- which is the Feb 2010 low. The next support is near SPX 950. Unlike Feb 2010, markets were very extended even though due to the recent market actions, daily charts are a bit showing oversold condition. However, comparing to previous oversold level during the Oct 2008, the current level - only comparatively 30% of the level - is not nearly oversold. So far, markets have retraced about 27% of March 6, 2008-April 26, 2010 extended rally. It would be a miracle, the best case scenario, that markets retrace near to the March 2009 bottom by July 2010? Is it possible? Based on my fractal analysis, it is possible as the best case scenario for bear cases. However, rational possibility is market trading to the SPX 950 breakout support by July 2010 timeframe. Nevertheless, markets are trading at pivotal juncture; therefore, hopefully, markets will sell and go away.

$COMPX 2213.55 -15.49 -0.69% 2,061,859
$INDU 10066.57 -126.83 -1.24% 1,395,658
$INX 1073.65 -14.04 -1.29%

• • Tuesday Outlook: Europe's Ills May Hit US Economic Growth

    It wasn't just your stock portfolio that got banged up by Europe's sovereign debt crisis—the U.S. economy may also be a little bruised. Investor Spring Cleaning US Stocks in Sharp Selloff

  • Two Investing Strategies: Portfolio and Retirement
  • Regulators May Never Know Cause of 'Flash Crash'
  • Mortgage Rates at New Lows, Thanks to Europe's Crisis
  • Wall Street Critic Frank to Head US Reform Bill Panel
    • Markets Relieved Over Bill
    • Bill is Disaster: Sen. Gregg
  • Wal-Mart Cuts iPhone 3GS Price by Half
  • UK's Prudential Shares Down Nearly 3% in HK Debut

  • 20 Stocks with the Potential to Pop

  • US, European Economies Face Major Hurdles: GE CEO
  • • Markets Headed For a Double-Dip Recession: Pro

    • Cramer: The Spec Stock of 2010?

    • Roubini's 20% Stock Fall Call Unlikely: Yoshikami
    • 6 Winning Large-Cap Stocks For Investors: Strategists
    • Correction Is 'Not Over'—Market 'Worse Than January'
    • The World's Biggest Debtor Nations
    • Mortgage Fraud, State by State: Where the Crooks Are
• Existing Home Sales Rise on Tax Credit, Economy

  Existing-home sales rose again in April with buyers motivated by the tax credit, improving consumer confidence and favorable affordability, according to the National Association of Realtors.

• Spain Is an 'Anti-Market,' Banks Won't Come Clean
• Farrell: Trichet—A Vestal Virgin No More
• Landmark Overhauls May Not Help Democrats at Polls
• As Reform Takes Shape, Some Relief on Wall Street
• Euro Falls After Spain Takes Over Savings Bank
• Germany Prepares for $13 Billion 'Debt Guillotine'
• US Plays Down European Crisis but China Worried
• Obama Seeks to Trim Costs From US Spending Bills
• IBM to Buy AT&T's Sterling Unit for $1.4 Billion

• 20 Stocks with the Potential to Pop

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DOW weekly & SPX 60min fractal formation

• • 
    
  • Euro Falls After Spain Takes Over Savings Bank

    The euro fell sharply across the board on Monday, pulling back from a short-covering rally, after the Spanish central bank's takeover of a savings bank underlined structural problems facing fiscally fragile euro zone states.

  • Spain Is an 'Anti-Market,' Banks Won't Come Clean
    • Spain Bails out Savings Bank
    • PM: Austerity Stays
  • As Reform Takes Shape, Some Relief on Wall Street
  • Obama Seeks to Trim Costs From US Spending Bills
  • Poll: Economists More Upbeat Despite Deficit Worries
  • China Avoids Commitment to US on Currency
  • Germany Prepares for $13 Billion 'Debt Guillotine'
  • US Plays Down European Crisis but China Worried
  • Euro Falls After Spain Takes Over Savings Bank
  • Geithner Urges US, China Cooperation on Freer Trade
  • Rio Tinto Says Australia Is Top Sovereign Risk
  • UK Government Details $8.7 Billion Spending Cuts
  • Pressure Piles on BP as Gulf Spill Widens
  • • Double Dip Recession Now Assured?
    • Euro Club Membership Very Tough to Renounce
    • Year-Long Rally Is Over: Charts
    • Pisani: Sell on Monday — Then Go Away?
    • Stocks to Tumble Another 20%, Stick to Cash: Roubini
    • Bold Call: Stocks to Come Back with a Vengeance
    • Banks Most Exposed to Risky PIIGS Nations
  • Google: It's an Internet Titan. But Is That a Bad Thing?

    The Silicon Valley lawyer who almost single-handedly brought the antitrust weight of the government down on Microsoft is setting his crosshairs on a new target: Google. Google Gets OK to Buy AdMob Flipping On the Google TV

  • Case Against AIG Executives Likely to Be Dropped
  • Outlook for Stocks Volatile, With Strong Headwinds
  • Oil & Gold Next Week: What Traders Will Be Watching
  • Manufacturing Feeds the Recovery, but Can It Persist?
  • Bankers Get Knives Out for House-Senate Reform Panel
  • Plane Crash in Indian Forest Leaves 158 Dead
  • Obama Vows to Crack Down on Offshore Drilling
  • BP Says Oil Capture Rate Down to 2,200 Barrels a Day
  • EPA Could Ban BP From Government Contracts
  • Copper Thieves Slow High-Speed Trains in Europe

  • 20 Stocks with the Potential to Pop

2 Chronicles 7:14 America cry out to God. We pray God to restore America from living in Sodom and Gomorrah.

2 Chronicles 7:24 3 Blessed are the poor in spirit: for theirs is the kingdom of heaven. 4Blessed are they that mourn: for they shall be comforted. 5Blessed are the meek: for they shall inherit the earth. 6Blessed are they which do hunger and thirst after righteousness: for they shall be filled. 7Blessed are the merciful: for they shall obtain mercy. 8Blessed are the pure in heart: for they shall see God. 9Blessed are the peacemakers: for they shall be called the children of God. 10Blessed are they which are persecuted for righteousness' sake: for theirs is the kingdom of heaven. 11Blessed are ye, when men shall revile you, and persecute you, and shall say all manner of evil against you falsely, for my sake. 12Rejoice, and be exceeding glad: for great is your reward in heaven: for so persecuted they the prophets which were before you. Matthew 5 America cry out to God. We are in prayers together so that God deliver US. We pray God to restore America from living in Sodom and Gomorrah the greed 666 Fed corrupting Christians and our nation.