China crude-oil stockpile.

The price of crude oil has spike up of late despite the poor economic fundamentals worldwide.Just who might be stockpiling?
China, the world’s second-biggest energy consumer is aiming to take advantage of weakened oil prices amid the global recession.
The government started its first phase filling four storage bases on the eastern coast last year to hold the equivalent of 30 days of oil imports. Zhenhai (consists of 52 tanks, each capable of holding 100,000 cubic meters of oil)and Zhoushan bases in the coastal province of Zhejiang with 3.2 million cubic meters at Huangdao and 3 million cubic meters at Dalian
Under a second phase, China plans to build underground caverns and storage tanks in inland regions.
Sinochem Corp., China’s largest chemicals trader, is building a commercial stockpile of crude oil and fuels in Zhoushan, next to the government’s emergency oil-storage base.
The Chinese government plan is to stockpile 10 million metric tons of fuel by 2011.
Tracking the Dow on Tuesday,16/06/09.(3 market days to Quadraple Witching)
9:30am:--Opening flat with a bearish indecision doji.

The IMF has upgraded its view of the U.S. economy, while a separate article in The Wall Street Journal said the Bank of Japan upgraded its view of the Japanese economy for the second straight month and left its benchmark lending rate unchanged at 0.10%.

10:30am:--The bearish hangmen.

The Producer Price Index for May showed a 0.2% increase, which fell short of the 0.6% increase that was widely expected, and marked a decline from the 0.3% increase registered in April.

11:30am:--A bearish dark cloud cover at 2nd low attempt.

Losses have intensified among retailers, which are now down 1.0%.

12:30noon:--3 black crows with bearish hammer at another low.

Precious metals prices are pushing higher after slumping in the previous pit trading session.

1:30pm:--Hangmen and bearish harami at session low.

There isn't any particular news item or point of weakness to account for the downward move. Instead, the decline is broad-based with nine of the 10 major sectors showing losses.
2:30pm:--A bullish technical rebound but the double hangmen are going to send it back to the guillotine.

Stocks have extended their decline to trade at fresh session lows. Including the prior session's loss, the stock market has shed 3.4% this week.

3:30pm:--Hangman again.
Given the downturn among stocks, Treasuries have been garnering continued support. Currently, the benchmark 10-year Note is up 11 ticks, which has pushed its yield down to 3.67%.

4:00pm:--The 3 black crows.(Japanese call 'san-ten')

The follow through should find a reversal.

It's a Graveyard doji.

The long upper shadow is the short-covering zone in the next few days.

In the event this pattern persist with a small white body till end of month,the Dow is heading for further tsunami again.

We are having a shooting stars after matching together with previous month candlestick.

Meantime is the window-dressing of most financial instituition and companies for the half-yearly book-closing.