Economy Downturn.

Federal Reserve districts reported decelerating economic growth in early 2008, even as most reported increased prices, according to the Fed's beige book, so named for the color of its cover.
On the upside, the ISM reported its nonmanufacturing index, which measures the performance of the services sector, rose to 49.3 for February from 44.6 in January; anything below 50 points to contraction in the sector. The services sector accounts for 80 percent of the economy.
Factory orders fell 2.5 percent in January, the first decline since August, the Commerce Department reported. Private employers slashed 23,000 jobs from their payrolls in February, according to ADP. U.S. nonfarm productivity grew at a 1.9 percent annualized rate in the fourth quarter, the Labor Department said, up from the prior estimate of a 1.8 percent pace.
Still to Come:
THURSDAY: Weekly jobless claims; Retailers' Feb. sales reports; ECB and BOE rate decisions; IBM analyst meeting; Disney shareholder meetingFRIDAY: February jobs .
Look OUT!!!
Quadruple Witching DAY---third Friday of the month.
A better-than-expected reading on the services sector, an encouraging outlook from Cisco's CEO and new highs for several commodities spurred buying.
Ambac shares plunged 19 percent after the bond insurer announced plans to raise up to $1.5 billion in capital in an attempt to keep its crucial triple-A debt rating. When it was announced after 1:15pm,the main indices spiked down dragging the party into disarray again.There were too many bearish dojis in the morning session and the bears has a upper hand.The bulls tried to par its losses and ended the day just above the MAV to get some oxygen before it sinks into murky waters again.The last minute was a bull trap.
The technical rebound seems to be shortlive.Looks like the bulls are submitting their pleas and appealing for a lighter sentence in the court of law before they were to be hanged and slaughtered before the guillotine.Noticed the long noose held by the hangman on Tuesday,Mac 4th.This is the destination,a new destiny.Meantime fasten your seat-belt for the roller-coaster again.
To get entertained,read this:---British commandos stripped naked for crass stunt