sp500 regain some ground

Thursday's focus will be on the U.S. weekly jobless claims data at 8:30 a.m. Other data includes leading indicators and the Philadelphia Fed survey, both reported at 10 a.m. Fed officials and others should begin to gather Thursday ahead of the Kansas City Fed's annual symposium in Jackson Hole, Wyo. Fed Chairman Ben Bernanke speaks to that group Friday morning, but traders are watching for comments from other attendees to trickle out ahead of time.Stocks fought back Thursday against a soft opening, shaking off a slide in China's equity market, as investors responded favourably to a surprising drop in crude oil stockpiles that might suggest an improving demand outlook.The Dow was up 61 points or 0.7 percent to 9279, while the S&P 500 rose 6 points to 996. Higher oil prices are seen as a double-edged sword for stocks because they boost oil profit earnings and represent stronger growth, but they also can cut into consumption, depress an already weakened consumer and pressure corporate profit margins.

S&P500 rebound remain capped

fkli enter into correction mode ?

FKLI RSI divergence

mixed mkt with support

The U.S. market followed world equities markets lower MondayAsian markets reacted to Friday's weak U.S. consumer sentiment data, and the Chinese market, already down sharply last week, dipped 5.8 percent Monday.The Dow finished Monday off 186, or 2 percent at 9135. The combined 262 points lost since Friday gave the Dow its worst two-day performance since June 16. The S&P 500 erased 24, or 2.4 percent to 979. Stocks have now given up all of their August gains and are trading at levels last seen July 29. Traders point to 950 as a key area for the S&P, which could serve as a floor for the market, at least temporarily. They also say the volume is light because there is a real lack of players on Wall Street, due to summer vacations.For Tuesday, traders expect Wall Street to take its directional cue from overseas markets. There are producer prices inflation data and housing starts at 8:30 a.m. Several retailers report earnings, representing a diverse cross section of the retail landscape. Ahead of the bell, there's home improvement giant Home Depot, discounter Target. Computer maker Hewlett Packard reports after the bell.

heavy battle... for tech rebound

rebound no good

might rebound...

chart error
DJ MARKET TALK:China Shares May Rebound After Recent Sharp Falls (2009/08/18 09:11AM)

0111 GMT [Dow Jones] While a medium-term downtrend intact, China shares could rebound today after Shanghai Composite slides 17.3% in past 9 sessions, analysts say, including yesterday''s 5.8% fall to 2870.63. Qian Qimin at Shenyin Wanguo Securities says "experience tells us a technical rebound always follows such an unexpected sharp decline. Since the index has tumbled several days on end, investors shouldn''t be much perturbed and blindly sell their positions at present." But adds "we remain bearish about the market on a medium-term horizon and believe the correction will last several months." Support pegged at 2800. Other analysts tip brokerages such as Citic Securities (600030.SH), Haitong Securities (600837.SH) may be in focus as expected strong debut by Everbright Securities (601788.SH) will likely spur buying interest in sector. Shenzhen Index last ends down 6.6% at 955.87.(RWY)