Another Black Friday.

It's another horrified trading day at Wall Street on this special Friday Leap Year Day.Stocks were being hammered by economic fears again.Now that worries about the financial sector are back, there is also "nervousness about what impact the recent slide in the dollar and sharp rise in commodities -- including a jump in crude oil prices to $103 a barrel -- will have on the economy.
The mortgage crisis and resulting credit crunch are likely to have a big negative impact on economic growth over the coming year, trimming GDP growth.Continued recession fears due to a weak GDP number, increased jobless claims and inflation fears, and as comments from Federal Reserve Chairman Bernanke and President Bush did little to relieve recession fears.
The financial turmoil was compounded late in Friday's session when JPMorgan, Wells Fargo, and Sallie Mae all went public with bad news. JPMorgan said it could see $450 million in first-quarter home equity losses, Wells Fargo has exposure to SIVs worth $1 billion through its money funds, and Sallie Mae was dealt a subpoena Feb. 11 by the NY Attorney General over one of its tuition products.
Friday's downward spiral was lead by credit losses from AIG, concerns over the Ambac (ABK) bailout, a slumping housing market, record oil, and Wilbur Ross' $1B investment in Assured Guaranty was not enough to change the course of the markets.
The opening bell sees the bear firing their shorties within seconds which by right is a big-gap down.Then onwards it continues right to the closing bell where the bulls and bears are having a tug of war as seen by the many doji stars along the way.The closing was a white doji spinning with a longger upper shadow outside the white candlestick body reflecting that it's poised for a rebound.
The leaping frog has jumped into a wrong pool which turns out to be a hot-soup.
The two bearish unshaven top black bearish candlestick has wiped off totally this week gains.
Friday's candlestick has penetrated slightly the February bear main pivot and is resting slightly above it.It's showing sign of remaining in the bear county.
Investors around the world will be watching the outcome of this weekend's Russian presidential election. First Deputy Prime Minister Dmitry Medvedev, endorsed by outgoing President Vladimir Putin, is expected to win.
In U.S. politics, Tuesday is the big day as voters head to polls for presidential primary votes in Texas, Ohio, Rhode Island and Vermont.