CIT Group:-No bail.

Cit Group Inc.,(NYSE:CIT) (USD1.64)
The Obama Administration drew a line in the sand on financial bailouts on Wednesday, July 15, denying emergency aid to CIT Group , a struggling commercial lender on the brink of bankruptcy.
The nation's two largest trade groups for retailers and clothingmakers sent urgent pleas to Washington on Wednesday asking for government aid to save CIT Group Inc., saying the finance company's failure would exacerbate an already weakened industry
CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products, and management advisory services to the small and middle market companies worldwide. Its products principally include asset based loans; secured lines of credit; operating, capital, and leveraged leases; vendor finance programs; import and export financing; debtor-in-possession/turnaround financing; acquisition and expansion financing; letters of credit/trade acceptances structuring; and small business loans.

Tracking the Dow on Wednesday,15/7/09 (THE PIVOT DAY OF JULY)
One more day to Friday's Index Futures Expiry.
9:30am:--Bulls early strike with a 100.0 point gap-up.

The New York/Empire State Manufacturing Index for July came in at -0.55, which was better than the -5.00 that had been expected. The latest reading was also up from the -9.41 that was registered in June.

10:30am:--!st hour no sign of pullback to fill the opening gap.Session high.

Core CPI for June increased 0.2% month-over-month. It was expected to increase 0.1%, which was also the rate of change registered in May. Year-over-year, the CPI fell 1.4%, which was less than the 1.5% decrease that was expected. Core CPI increased 1.7% year-over-year, as expected.

11:30am:--2nd hour holding at another high.

The Wall Street Journal reported that consumer prices in the 16 countries that use the euro fell on an annual basis for the first time on record in June. More specifically, consumer prices increased 0.2% for the month, but were 0.1% lower for the year in June.

12:30noon:--The end of morning session find it difficult for any pullback to MAV,too far a distance.

A thoroughly impressive quarterly report Intel (INTC), which announced last evening better-than-expected earnings and even issued an upside revenue forecast is holding strenght.

1:30pm:--The session started with ascending soldiers.

Crude oil futures are now up 2.5% near $61 per barrel.

2:30pm:--Bullish inverted hammer at session high.

Meanwhile, industrial production fell once again. In June, production fell 0.4%, but that wasn't as bad as expected. Capacity utilization was in-line at 68%.
3:30pm:--A slight profit-taking.

Many participants are likely waiting to see if earnings announcements continue to top expectations. JPMorgan Chase (JPM 36.26, +1.56) . Bank of America (BAC 13.42, +0.51), Citigroup (C 3.17, +0.25), and General Electric (GE 12.24, +0.60)

4:00pm:--A very strong day high close.

Alas,the bull pivot has been pierced through.The bulls are now on safe ground and the Spanish bull-run Pampanga fiesta is about to begin.

The Asian chinese will be lighting up the candles for the Mid-Autumn Festival.

The begining of the 2nd half year is about 500.0 points away to be called the bull-rally.
A mild-profit taking with a doji type formation to ensue in view of the unshaven top & bottom of yesterday's candlestick.