Modern world and not third world.

The term Third World arose during the Cold War to define countries that remained non-aligned or not moving at all with either capitalism.

So NATO is the first world while Soviet Union or communist countries refers to as second world.

The old concept of "ThirdWorld" no longer applies and rich countries cannot impose theirwill on developing nations that are now major sources of globalgrowth, World Bank chief Robert Zoellick said on Wednesday.

He said economic progress in developing countries hadprofound implications for global cooperation, multilateralismand the work of institutions such as the World Bank.

The shifts in the world are not only in China and India, he said. Sub-Saharan Africa is set to grow by an average of over 6percent to 2015 while South Asia, where half the world's poorlive, could grow by as much as 7 percent over the same period.

The growing use of the term Developing World led to a growing sense of solidarity among the nations of the so-called Third World to unite against interference from either major bloc.
A number of Third World countries were former colonies and with the end of imperialism many of these countries, especially the smaller ones, were faced with the challenges of nation and institution-building on their own for the first time. Due to this common background a lot of these nations were for most of the 20th century, and are still today, "developing" in economic terms.

The use of the terms First, the Second, and the Third World is a rough, and it's safe to say, outdated model of the geopolitical world from the time of the cold war.

The Dow is 2 market days to index/options futures expiry.
9:30am:--Advance retail sales for March increased 1.6%, which exceeded the 1.2% thereby boosted the opening.

10:30am:--The March Consumer Price Index increased 0.1% month-over-month,pullback to session MAV support with bullish short covering.

11:30am:--Upbeat tone by a batch of better-than-expected earnings and data,session new high with bearish pullback.

12:30noon:--Bullish engulfing,Intel (INTC 23.45, +0.68) and JPMorgan Chase (JPM 47.42, +1.55 providing leadership.

1:30pm:--Hoovering at high again.The Fed just released its Beige Book, which is a compilation of anecdotal economic data, but market participants haven't shown much, if any, reaction.

2:30pm:--Index pounced higher.Fed Chairman testimony on unemployment.

3:30pm:--Ascending soldiers.Investor favor for financials.

4:00pm:--Shooting stars.Time for a breather.

An unshaven candlestick is where the top and bottom have no shadow.A bullish situation requires a pullback,while a bearish position needs a retracement.

The stock rally continues in the 5th session. Fed Chairman Ben Bernanke told Congress that he is confident the economic recovery will have staying power but won't be strong enough to bring quick relief on the employment front.

Richmond Fed President Jeffrey Lacker said he is looking more closely for indications that the Fed should begin raising interest rates after a long period of easy money.