China's credit for Asean

China plans to provide US$15bil commercial credit to Asean, including US$1.7bil preferential loans to the regional grouping, in the next three to five years.
In a joint communique issued at the end of the 42nd Asean Foreign Ministers Meeting in Phuket(Thailand), the ministers also appreciated China’s active role in developing transportation infrastructure between the country and Asean.
The 10 ministers said they welcomed the establishment of the US$10bil Asean-China Fund for Investment Cooperation which would significantly contribute to the completion of transportation links in the region.

Tracking the Dow on Monday,20/07/09
9:30am:--Nearly 80.0 points gap-up with extended unshaven bull.

CIT Group (CIT) appears to have reached an agreement securing $3 bln in last-minute rescue financing from its bondholders Sunday in a deal that should keep the lender out of bankruptcy court.

10:30am:--Bears pullback the open up gap to find its double bottom.

Moody's has commented that the global banking system has finally gotten to its feet, but it is still struggling to stand up straight.

11:30am:--A technical rebound to current session MAV with a bullish spin.

Currently, crude is 0.9% higher at $64.16 per barrel.August gold is currently 1.3% higher at $949.80 per ounce, while September silver is 1.7% higher at $13.64 per ounce.

12:30pm:--The end of morning session saw the indicies piercing through the MAV resistance with a graveyard doji pause.

1:30pm:--Pullback to MAV support line but a bullish inverted hammer prevented it from falling.

Atlanta Fed President Lockhart said that the economy is stabilizing, forecasting a recovery in the second half of 2009, according to Dow Jones.

2:30pm:--Hammering the bears above the MAV line.

The New York-based Conference Board's index of leading economic indicators rose 0.7 percent last month,another sign pointing toward the recession ending later this year.
3:30pm:--A sudden spike up is bringing the Dow to session day high.

Stocks extend rally as worries over CIT ease.

4:00pm:--A bearish harami is attempting to check the index further advance.
Investors signaled optimism about second-quarter financial reports bringing the Dow to 4days of consecutive advancement.

Monday's Dow lift-off to a very good July index futures after the expiry of June contract last Friday.

July's candle is now a bullish hammer of a downtrend.It has broken the 52 weeks Bear resistance as the bears are now incapable to withstand the summer heat.Another 747.29 points is need to reach the 52 weeks MAV and thereafter the start of a real bull rally.