US trillion dollar deficit

President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy
The federal deficit was about $455 billion when the last fiscal year ended on Sept. 30, 2008.
So let's see How Barack Rock & Roll after his inauguration day.
Tracking the Dow on Tuesday,6th January 2009.

9:30am:--50.0 points gap-up with a doji star inside the body.
Energy stocks (+2.5%) continue to register gains as crude oil futures fetch higher prices.
10:30am:--Bullish harami.
The December ISM Service Index came in at a better-than-expected 40.6.
11:30am:--Double bottom retracement.
November home sales were down 4.0% month-over-month.
12:30 noon:--Morning session close at MAV.
Factory orders continue to show weakness, though to a lesser extent than the prior month. November factory orders fell 4.6% after falling 6.0% in October. November orders were expected to decline 2.3%.
1:30pm:--The inverted hammer.
Standard & Poor's current outlook for U.S. banks is negative.
2:30pm:--Bulls at work.
The minutes from the Dec. 16 Federal Open Market Committee (FOMC) meeting are released.
The Fed expects unemployment to rise significantly into 2010, but sees appreciable easing of inflation pressures.
The Fed stated that even with nontraditional policies the outlook will be weak for some time. Downside risk to growth remains substantial.
3:30pm:--The bears have cornered the bulls but a technical rebound have it in check.
The Fed said that there was significant contraction in economic activity in the fourth quarter. The committee noted it stands ready to expand purchases of agency debt and agency mortgage-backed securities. The FOMC is also evaluating the potential benefits of purchasing longer-term Treasuries.
4:00pm:--Indicies close at MAV,checkmate a bullish hammer.
The re-emergence of buyers paired with the realization that the FOMC's comments didn't really tell the market anything new helped stocks ascend to their best levels of the afternoon.
The overall bad economic news did not deter the market from being hammered.The market is eager for signs that the U.S. recession will end this year.
Analysts expect Wall Street to remain on edge in the coming weeks as corporate earnings reports begin to arrive. Investors will be looking to glean any insight into companies' expectations for the coming year.
The three days candlestick formation has showed sign of caution.

Repairing the economic crisis.

The economic downturn could lead to double-digit unemployment,so swift action need to be taken as address by President-elect Barack Obama over the weekend.
With the U.S. amid its worst economic slump since World War II, Obama said he is looking forward to meeting with leaders of both political parties in Washington in the new week.
The stimulus package must pass Congress by Jan. 20, the day Obama will be inaugurated.
Obama’s advisers are looking at including a “buy American” provision in the economic-stimulus legislation that the incoming administration has made its first priority so as to save or create 3 million jobs, including jobs in manufacturing.

Tracking the Dow,3rd January 2009
FIRST DAY of the Year.

9:30am:--A 50.0 points gap-up followed by bearish spin.

Wells Fargo completes merger with Wachovia (WFC) 29.48 :
Bank of America completes Merrill Lynch purchase (BAC) 14.08

10:30am:--Early filling of gap up,a good bullish sign with ascending soldiers.

Fitch reports BofA enhances global franchise with Merrill Buy; IDR affirmed at 'AA-'

11:30am:--A small candlestick body bearish top.

Worldwide sales of semiconductors declined in November to $20.8 bln, a decline of 9.8% from November 2007 when sales were $23.1 bln, the Semiconductor Industry Association (SIA) reported today.

12:30noon:--We are now at pivot session of the day,decision time-a bullish spike.

Fitch reports Wells Fargo cements national franchise with Wachovia buy; IDR affirmed at 'AA'

1:30pm:--Inverted bullish hammer at session high.

Crude oil extends its rally by making highs at $46.17; now up $1.50 to $46.10. European Markets Closing Prices -- FTSE: 4561.8 +127.6 +2.9%, DAX: 4973.1 +162.9 +3.4%, CAC: 3349.7 +131.7 +4.1%

2:30pm:--Inverted bullish hammer at session high again with mild profit taking.

Failed IndyMac sold to investor group for $13.9B.IndyMac, which specialized in loans made with little down payment or proof of assets, was seized by the government in July after a run on the bank as the U.S. housing market collapsed.

3:30pm:--A bullish spinning top at near day's high.

The Treasury Department opened the door Friday to using a Citigroup-style rescue package to help other troubled financial institutions.The financial lifeline thrown to Citigroup Inc. in late November involved backing billions in risky assets and providing the banking giant with a fresh capital infusion.

4:00pm:--A graveyard doji,a hangman,an unshaven bear and a bearish hangman at the closing session---a sign of profit-taking and pullback.

Automotive supplier Visteon Corp. said Friday it will shift more than 2,000 workers to a four-day week and cut their pay by 20 percent as tight credit and collapsing sales cause huge industry losses.
A fresh start in the new year after a horrific 2008. Wall Street started 2009 with a big rally. Post-holiday volume was light and therefore Friday's trading might not be the best indicator of market sentiment.

Manufacturing index drops to 28-year low.

Every corner of the sector was down, from bakeries to cigarette-makers to aluminum smelters.

Some clients of disgraced financier Bernard Madoff are concluding that their losses weren't as bad as originally thought.