A dismal quarter.

It was the worst quarter for the major indexes since the third quarter of 2002, when Wall Street was approaching the lowest point of a protracted bear market.

It was a difficult quarter on Wall Street, with financial companies' ongoing credit market losses and the flagging economy wiping out many investors' appetite for stocks. While the market saw a number of up days during the quarter, the overall trend was sharply lower, with reports of asset write-downs and shaky financial companies pummeling the market -- in particular, the near-collapse of Bear Stearns Cos. in mid-March.

The market is already pricing in a ton of bad economic news. Bad economic news is not going to drive the market. What's going to drive the market is headline news.

Many analysts have suggested that the market has been seeking a bottom in recent weeks. But it will take some time -- and a long period of at least stable trading -- before anyone can feel secure that Wall Street is ready to resume an upward track.

Tracking the Dow on Monday,31/03/08.

A proposal put forth by Treasury Secretary Paulson to enact a sweeping overhaul of the U.S. financial regulation system augurs the main headline for the Dow to think positively.

In economic news, the Chicago PMI—a regional manufacturing survey—rose to 48.2, from 44.5. This was better than the expected reading of 46.0. However, the reading is still below 50, which indicates deteriorating manufacturing condition in the Chicago region.

The bears were in full control during the first hour of trading but the bulls managed to lift it up higher throughout the remaining session.At the closing bell were seen three black crows again.They were trying to pierce through the main support line.

The Harami spinning candle looks like a sign of bullishness.The lower end shadow of the candlestick will be utilised before they set foot on the bull's rampage again.Unfortunately it's still in the 5 days bearish zone and will be forming the inverted head.