Market sentiment and economic news is very mixed. While very negative news eventually turn to a contrarian indicator, where markets have made a long term bottom is yet to be proven. However, the financial sector is showing some improvement with the mark to market hearing.
After the fast and furious rallies of 12%-15% in 5 days and intraday showing negative divergences, I am looking for a pull back and reassess even though technical targets for markets are: SPX 800 +/- and Qs 31 +/-.
http://www.cnbc.com/
# Don't Count On A Consumer-Led Recovery
There’s growing concern in some economic circles that the President’s economic policies are confusing massive stimulus with Big Government and will thus deliver a muted recovery in the next year.
# New York Manufacturing Index Hits Record Low
# AIG Bonuses Spur Calls for Management Shakeup
* Big Benefits for European Banks
# Bernanke Sees US Recovery Beginning in 2010
# Plan for 'Toxic' Bank Assets Could Come This Week
# Feds Seek to Freeze Ruth Madoff's Assets: Report
# Monaco Backs Off Bank Secrecy
# Barclays Looking to Sell ETF Business
# HSBC Says No Need to Raise Further Cash
# Euro Shares Rise for 5th Straight Session
# IRS Seeks to Recoup Taxes from Stanford
# Ford Europe Cuts Output, More Steps Expected
# OPEC Keeps Output Steady, Will Meet Again in May
# BOJ Mulls Capital Support Steps for Banks
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