China is resilient to inflationary pressure.

Surging food prices pushed up China's consumer price index (CPI), a major gauge of inflation, to a 25-month high of 4.4 percent in October.The price of food, which accounts for one third of the basket of goods used to calculate China's CPI, surged 10.1 percent year on year in October.
The planning agency said supplies of farm products such as poultry, eggs, grain and cooking oil are sufficient. It said the government has adequate reserves, even after droughts and other natural disasters this year.
Economists say money flooding through the economy thanks to stimulus spending and bank lending helped push up October inflation.
China's regulators also worry that soaring lending is fueling overspending on real estate and other assets and could leave banks burdened with unpaid loans if ill-considered projects default.
Beijing has slammed the U.S. for monetary policies it says are flooding emerging economies with cash seeking higher returns due to low interest rates and the weakening U.S. dollar.
China's Cabinet promised last week to ensure adequate supplies of coal, power, oil and gas and said it would impose price controls on daily necessities if required.
The government also has promised food subsidies for the poor and increases in pensions and minimum wages.

Dow Index Futures expiry day.

9:30am:--Concerns about the effects of China inflation along with debt woes in Europe have pressured equities.

10:30am:--Early session low,bullish hammering out a bottom.

11:30am:--Holding at near morning high.Bearish pullback.

12:30noon:--Pullback holding strongly at the bullish pivot.

1:30pm:--Another attempt to pierce the morning high.

2:30pm:--Session high with bearish pullback.

3:30pm:--Retracement time.

4:00pm:--Day's high closing.
A week of threatening news...China's inflation & Ireland bankruptcy.

China’s government increased the amount of deposits it requires banks to hold with its central bank by 50 basis points.
Meantime, the prime minister of Ireland Brian Cowen — or “Taoiseach,” as the Irish call him — is in “constructive talks” with the International Monetary Fund over help in the country’s debt woes, with formal inspection of the country’s finances underway.

The weekly candlestick reflects that of a bullish dragonfly doji while the monthly todate pattern is still a bullish spin.Bulls and bears are still fighting it out and the bulls need to break the monthly MAV resistance line in order to secure a safe haven.