The psycological barrier.

Alas!!at 1:10pm(eastern time) the Dow hit 10,000 points.It's able to recuperate from its intensive care unit over such a short length of time within a year.

A recovering stock market soothes the psyche as people watch their portfolios and 401(k) retirement accounts being replenished. And if people start spending again, that may persuade more investors, including some reluctant pros, to go back into the market.

On the othe hand the current weakening of the US dollar is a big concern. And this isn't just impacting Americans.This is aiding the Dow's advancement as well as oil commodity.Because oil is denominated in dollars for global trading, it tends to rise when the U.S. currency falls as the commodity becomes cheaper for holders of other currencies.

True,cheaper dollar enhanced increased exports.Asia-Pacific currencies strengthen and these economies will be crying foul soon as the impact will be very great.And the dollar is wreaking havoc in some ways you might not expect.

The weak US dollar is benefiting and boosting US companies bottomline,so expect more positive companies earnings coming out and the Dow's 10,000 mark will remain.

Tracking the Dow,14/10/09(Wednesday) 2days to Index Expiry.
Asian Index Futures Expiry:12 market days.
9:30am:--A powerful bullish inverted hammer opener.

Impressive third quarter reports from bellwethers Intel (INTC) and JPMorgan Chase (JPM).

10:30m:--Pullback to MAV with dragonfly doji.

Advance retail sales for September fell 1.5%, but that wasn't as bad as the 2.1% decline that was widely expected.

11:30am:--Morning session high with slight profit taking bears.

The U.S. dollar dropped to fresh 52-week lows.

12:30noon:--Still hoovering above session bull pivot wit spinning doji.

November crude oil is now $75.15 per barrel

1:30pm:--Holding at near high with inverted bull.

The Dow hit 10,000 for the first time in just over one year.

2:30pm:--Usual time for pullback by completing 4 black crows.

The minutes from the Fed statement indicate that job losses are slowing.

3:30pm:--Spike up to day's high.

4:00pm:Closing above day's bull pivot.

The bulls are now ahead of the bears and currently holding strongly above October's bull-pivot.
A stunning physcological breakthrough of 10,000 mark @ 1:10pm(E.T)It's a confirmed bull run made by those furious hedge funds and instituitions that have sold and hastened the world market collapse in the first place.

This lightning speed of short-covering is also very contagious as it was done on the pivot day of the week and 3 days before index futures expiry.