Financial "Hell-o-week" replica of Halloween.

The 53-year-old Fed chief,Benarnke added that the Fed is now ``very dependent'' on economic data to prompt any shift in its stance on interest rates.

Fed officials will now need to use the minutes of their Oct. 30-31 meeting, scheduled for release Nov. 20, and speeches to ``disabuse market participants'' that a December rate cut is all but certain, said Vincent Reinhart, a resident scholar at the American Enterprise Institute in Washington and former director of the Fed's monetary affairs division.

Record high oil prices and the dollar's 8 percent decline against the currencies of major trading partners since January, according to Fed data, is underpinning inflation pressures.

Bernanke told lawmakers in Washington yesterday that officials already expect the economy to ``slow noticeably'' this quarter, and warned of ``upside risks'' to inflation. Futures traders focused on his growth comments, increasing the odds of a quarter-point cut in the benchmark rate on Dec. 11 to about 98 percent today, from 68 percent a week ago.

Major indexes ended Friday's session sharply and broadly lower amid a fresh barrage of bad news for Wall Street. New worries emerged in the credit mess as Wachovia (WB) said it will raise its loan allocation by $600 million, and British giant Barclays (BCS) refused to say if it will have a derivatives loss. The tech sector, stung by a downbeat report from Cisco (CSCO) late Wednesday, had to contend with another disappointment as Qualcomm (QCOM) cut its annual forecast.

The last half hour of sell-down and unwinding position ahead of US Veteran Day holiday on Monday is a normal phenomenon on a black Friday.At the close was a "Morning Doji star "candlestick and this is the captain of a positive move from the bottom of a downtrend.

http://www.prosticks.com/education/candlestick_patterns/morning_star.php?sid=355cd105f79507780fad8848469baca1

The Dow on Friday has finally touched the main Pivot point of 13,103.40 for the year with a close of 13,042.74.Above the main pivot is the bullish zone while below it will be in the bear county.

The dow is now at a critical border line of the moving average.The left shoulder and the head is beautifully completed on Friday so the next destination will be forming the head.Next week betting on Fed's rate will possibly help the chart to form the right shoulder before the real bubble burst will materialised.