Credit card delinquencies.

In May, U.S. President Barack Obama signed into law the Credit Card Accountability, Responsibility and Disclosure Act, setting new restrictions on card rates and fees.
But card companies got a break because the law does not take full effect until next February, giving them a window to change some of their policies.
Bank of America Corp and JPMorgan Chase & Co are switching some customers who have fixed-rate credit cards to potentially higher variable rates, acting before a new law takes effect that limits what card issuers can charge.
Soaring unemployment and the housing bust are leaving consumers hard-pressed to make loan payments on everything from credit cards to cars.

Tracking the Dow on wednesday,08/07/09
9:30am;--Bullish 40.0 points gap up with a follow up hangman.
G8 leaders believe that the global economy continues to face significant risks and may need further help.

10:30am:--The first hour high being set with a shooting star.

Sellers are now focusing their efforts against financial stocks.

11:30am:--The second hour pullback with session low followed by bullish inverted hammer.

Oil prices are down 3.7% to $60.60 per barrel in the face of relatively bullish inventory data, which was overshadowed by bearish gasoline inventories.

12:30noon:--The morning session ended with another new low with a bullish spin.

Energy commodities and precious metals were the hardest hit, down 4.0% and 2.7%, respectively.

1:30pm:--Retracement to MAV with a bearish engulfing.

2:30pm:--Another descent to a new low with a dradonfly doji sighted for a rebound.
3:30pm:--Bulls holding position above the MAV line.

4:00pm:--A bearish dark cloud cover closing.

A late-stage rally brought stocks off their lows on hopes that the quarterly earnings season would deliver good news.
Aluminum giant Alcoa Inc (NYSE:AA ) reported a smaller-than-expected loss that gave a positive tone to the start of the second-quarter earnings season. Its shares jumped 7 percent to $10.07 in extended trading.
Wednesday closed with a bullish spin,so we are not having an alternate bear,it's the bull to take over.