General Motors.(OTC:GMGMQ)

Resistance to General Motors Corp.'s (GM) bankruptcy plans is beginning to take shape as groups that stand to lose in the auto maker's restructuring begin maneuvering to get a better deal.
Over the weekend, 54% of bondholders agreed to GM's 10% equity offer and promised not to fight GM on the sale. However, a judge would still need to sign off on the deal over what will likely be plentiful objections from bondholders who didn't agree.
Stock quote on 03/06/09:-Open:0.61(unchange)
High:0.70
Low:0.53
Closing:0.62
Volume:65,818,340 lots.

Tracking the Dow on Wednesday,03/06/09.(12 market days to Quadraple Witching)

9:30am:--A 50.0 points Gap-down.

According to the ADP Employment Report, 532,000 jobs were lost during May.
10:30am:--Bulls hammering session low.

The ISM Services Index for May recently came in at 44.0, which is a bit short of the expected reading of 45.0, and is up slightly from the 43.7 that was registered in April.
Much like the ISM Manufacturing Index, the ISM Service Index continues to show a contraction in activity, but the pace of that contraction continues to decelerate as the Index has clicked higher for three straight months.

11:30am:--Technical rebound failed to fill the opening lower shadow.

Meanwhile, factory orders for April increased 0.7%, which is slightly below the 0.9% increase that was expected, but up from the downwardly revised 1.9% drop that was registered in March.

12:30noon:--Bulls failed to hammer out session low again.

Fed Chairman Bernanke spoke before the House Budget Committee this morning and stated that inflation is likely to fall over the next year, and overall economic activity is expected to turn up later this year.

1:30pm:--Bearish engulfing at day's low.

Participants have been pushing stocks lower for the entire session. The decision to sell follows four consecutive sessions of gains, which lifted the S&P 500 roughly 6%.

2:30pm:--Finally a bullish harami seen.

Reuters reports, citing a source familiar with the Treasury's thinking, that the Obama administration is planning to release a proposal on financial regulatory reform on June 17.

3:30pm:--A triple low action with a final bearish hammer and ascending bull.

The major indices were able to limit their decline by attracting enough support to make a strong finish.

4:00pm:--The dragonfly with a breakaway inverted bullish hammer.

The market is poised for a rebound strongly again.

The Wednesday's closing was above the MAV support line and is still very bullish.
As usual Wednesday being the mid-week is the pivot day for index meaning it has to pullback from its high to kiss the MAV line and vice-versa.
We are still in the bear rally of the 52 weeks index range.