Not durably good mid-week.

Yet another economic indicator has flashed a warning that the economy could be in recession.
Orders for durable goods — big-ticket items expected to last at least three years, such as dishwashers, autos and airplanes — fell an unexpectedly sharp 1.7% in February, according to the Commerce Department.
"This confirms we're in a recession," says Maury Harris, chief U.S. economist for global financial giant UBS. "The slowdown is spreading beyond housing to manufacturing."
In economics, a durable good or a hard good is a good which does not quickly wear out, or more specifically, it yields services or utility over time rather than being completely used up when used once. Most goods are therefore durable goods to a certain degree. Perfectly durable goods never wear out. Durable goods, nondurable goods and services together constitute the consumption of an economy.
Economists watch durable-goods orders closely because they are a good barometer of the economy. When companies think the economy is slowing, they stop spending on such items to save money.
Tracking the Dow on Wednesday,26/03/08


Durable Goods and New Homes Sales are the key economic news movers in today's market.Both shows a dismal report card and were penalised to attend a graduation rally.The mid-week is normally with high volatility and chances of a pullback is always heightened.
The selling is over and the closing bell shows a bullish inverted hammer on the back of three supporting bulls.

The profit-takers and short-sellers have completed their agendas.They will be retracing back to the main pivot and possibly close back to their highs to end this first quarter with a sweeter note.Meantime it's roll-over day for most Asian index futures market and most need to short-cover their positions.The American market-makers will dress Ms Dow with the best outfit tonight so that the party can start to hip-hop.