Death Wish

Tracking the anaemic Dow on Friday 18/03/08
After weeks of concentrating on credit problems and interest rates, the market was forced to pay attention to the consumers who drive economic growth.

The Commerce Department said consumer spending ticked up a paltry 0.1 percent last month, in line with Wall Street's expectations. But that news and the profit warning from J.C. Penney raised concerns about the well-being of consumers.

The morning trading session saw the previous day's four-legged frog leapt to a great height but was swallowed towards the end by the sneaky Dow.Near the closing was a Hammer like candlestick and can this mean a bullish reversal.The closing bell was a Dragonfly Doji.

The U.S. recession concerns have resurfaced. They never went away but there was the beginning of the sense that this recession was going to be shallow and maybe a bit benign.

It's going to be a dismal first quarter for wall street and many investors are likely eager to close the books on the losses and start fresh on Tuesday.It's like a Death Wish 3 --REDUX-- .The Three Black Crows will be feeding on the leftover carcasses and the pall-bearers will be performing the solemn ceremony.

It takes 6 months to form the head and shoulder patterns.Well,we'll be having another agonising 6 months to form the inverted head and shoulder before a powerful lift-off again.So the inverted right shoulder has been formed,now we're heading for the deep trough formation of head.April fools day will be on the trail especially where plenty of economic data starts to pour over next week as the market tries to determine if the country is indeed in the midst of a recession.Meantime fasten your belt for the roller-coaster ride.(Dow heading for 16,000, Richard Band says)

My favourite:To all the girls

Hey - Julio Iglesias

Julio Iglesias Paloma Blanca song Hamburg LIVE 1999.