Long road to recovery.

The Federal Reserve kept its key interest rate near zero Wednesday, and said in a statement that although the U.S. economy remains weak, there are signs of a recovery.
Fed members have been suggesting signs of improvement in individual speeches in recent months.They are predicting like the 'chinese feng-shui' master acting as a comforter for the markets.
Keith Hembre, chief economist at First American Funds said that "They'd be out of step with reality and the data flow if they didn't make that statement."
The Fed reiterated that "economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period."
Economists said there's not much the Fed can really do to control the benchmark U.S. 10-year yield and mortgage rates that are pegged to it.
Sung Won Sohn, an economics professor at California State University Channel Islands, said the Fed is caught between a rock and a hard place.
"If it buys more bonds trying to limit the rate increase, it could fuel the budding inflation psychology pushing up the interest rate," he said.
Tracking the Dow on Wednesday (pivot week) 24/06/09.
9:30am:--About 50 points gap-up with inverted hammer follow through.

The OECD's claim that the global recession is close to bottoming out......the good guys.

10:30am:--The first hour setting high with turning point.

The World Bank's decision earlier this week to trim its forecast for the global economy is very contrasting.......the bad guys.So which of these witches are trying to satisfy their agendas?

11:30am:--The 3 black crows.

Durable goods orders for May increased 1.8%, which is far better than the 0.9% decline that was expected.

12:30noon:--Pullback at the opening gap up high.

There were bears and graveyard dojis.Planning to fill up the bullish opening gap.

The FOMC is expected to leave the federal funds target rate unchanged at 0.00% to 0.25%, so most focus will be centered on the policy directive.

1:30pm:--A bearish hammer at the gap-up point.

The bears are waiting for helicopter Ben to open his big mouth and shoot him down.

2:30pm:--Opening gap-up being fully filled and hammered below with further bearish dojis.

The new home sales figures for May showed a weaker-than-expected 0.6% month-over-month decline.
3:30pm:--The low of the day in the last minute injury time with bullish harami.

Stocks are paring their gains after gyrating in the wake of the latest FOMC statement,bulls have already priced in.It's a dirty game,prior results have already being leaked to the benefit of some of the financial cronies.

4:00pm:--Mild technical rebound.
The overall June candlestick is now a bearish inverted hammer.

The follow through next month is going to have extreme turbulence-the doom and gloom.

The old saying"Sell in May and go for your mid-year holiday" herein applies.

We must not be overgeared in the months ahead.

Asian index futures are expiring end of the month and will remain bullish and I would regard this also as a bull trap.

Any Dow index rebound will be shortlived within the area in the upper bear pivot point.