The market starts to stabilize as shown from this 5-min. chart.

Finally, the market got its bearing and rises from the ashes.

It's been burning totally for almost two weeks.

Let's see come Monday if it's going to continue after today's short trading schedule, the market will close at 2:00 pm. ET.

Today's trading is a light volume day for traders/investors are on a Holiday retreat.

Only those who sleep and breaths with the market are the participants.

It is a nice breakout from the opening bell today in the market, no noise!

Buying at the open and take your Starbucks coffee from the nearby and exit your position at the close can make you a paycheck for a week?...how's that in trading as compared working for fck*&?'thers...

Wall Street rebounds after six losing sessions

By Edward Krudy

NEW YORK (Reuters) - Stocks rose on Friday, on course to snap a six-session losing streak, as a buoyant start to the holiday shopping season helped offset fears about the euro zone's debt crisis after another leap in Italian bond yields.

Reinforcing what some see as recent signs of strength in the U.S. economy, shoppers stateside flocked to stores, which opened early to offer a jumpstart to "Black Friday," the traditional beginning to the U.S. holiday shopping season. The S&P Retail index (Chicago Options:^RLX) rose 0.4 percent.

"Anecdotally it seems that Black Friday is off to a positive start," said Todd Salamone, director of research at Schaeffer's Investment Research.

Europe will continue to predominate, he said. "We may have days when the U.S. market separates itself for whatever reason, but everything is about Europe right now."

Yields on Italy's debt approached recent highs that sparked a sell-off in world markets. Italy paid a record 6.5 percent to borrow money over six months on Friday, and its longer-term funding costs soared far above levels seen as sustainable for public finances.

The Dow Jones industrial average (DJI:^DJI) gained 53.32 points, or 0.47 percent, to 11,310.87. The Standard & Poor's 500 Index (SNP:^GSPC) rose 6.47 points, or 0.56 percent, to 1,168.26. The Nasdaq Composite Index (Nasdaq:^IXIC) added 9.50 points, or 0.39 percent, to 2,469.58.

Friday's moves looked to steer indexes away from ending with a second consecutive week of losses. The S&P 500 had lost almost 4 percent this week and given back almost two-thirds of its gains in October, the market's best month in 20 years.

A European Union conference in Strasbourg produced little to ease the markets fears, said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

"What they agreed to was not bickering in public," he said. "The markets are going to continue to pressure the EU until they come up with a solution that is going to ease the crisis."

For many investors that means the European Central Bank printing euros to buy larger amounts of European bonds and for Germany to accept the issuance of euro bonds. Germany currently opposes both of those options.

U.S. stock markets, closed for the Thanksgiving holiday on Thursday, will end trading on Friday at 1 p.m. The day after Thanksgiving is typically one of the lightest trading volume days of the year.

The market continues to drop as shown on this 5-min. chart from the Globex market.

A big whooping 100 points drop earlier in the holiday trading.

A big sell off!

Fearful European bankers see little to be thankful for

(Reuters) - On Thanksgiving Thursday, people working in Europe's financial sector are struggling to find much to be thankful for.

While the United States turns its back on global gloom for a long holiday weekend, a failed German bond auction has finally brought home to Europeans the realization that nowhere is safe.

"It's as grim as hell. The only good thing is now everyone knows it's as grim as hell," one pale commuter was overheard telling a disheveled-looking colleague on their early-morning Tube ride into London's Canary Wharf financial hub.

Until this week Germany -- Europe's largest economy, with a hard line on austerity -- had been seen as the euro zone's last refuge and a source of comfort for the army of bankers, fund managers and traders caught in Europe's deepest financial crisis since World War Two.

Then came Wednesday's bond auction, in which Berlin found no buyers for almost half of a 6 billion euro 10-year bond offering at a record low 2.0 percent interest rate.

"Yesterday's German bund auction was a clear example that things they thought were on the periphery are now in the core... it's time to do something," said Thomas Becket, chief investment officer at funds firm Psigma Investment Management.

Bond investors have fled, interbank lending is drying up again and questions are being asked about the stability of the region's banking sector: while Americans tuck into turkeys, Europeans are finding life more frightening than festive.

One senior European banker, who declined to be named, said many of his colleagues had been "crisis-deniers" and were given false hope of a rapid return to big bonuses and job security by the significant economic rally in 2009.

"What they are realizing now, and it's even more brutal for them, is that this is in fact the new normal, that the industry is going back to what it was in the early 2000s," the banker said, adding that the recent round of layoffs had cut much deeper than the last, because no bank was hiring.

WORSE THAN LEHMAN?

The quarter following the September 2008 collapse of U.S. investment bank Lehman Brothers has long since served as the benchmark for the lowest ebb of banker morale in living memory, but consensus is quickly shifting.

At a capital markets conference hosted by IFR at the Thomson Reuters' London headquarters on Thursday, bankers and investors exchanged sober greetings like "How are you holding up?" and "are you surviving ok?."

When an attendee expressed surprise at seeing an acquaintance at the event, the fellow delegate drily replied: "It is not like any of us have much to do at the moment."

Depression and stress are sweeping the financial sector, industry sources say, as working weeks gobble up weekends and bankers and traders nervously accept they don't know whether they will still be employed in the New Year.

"You can spend more time on pitching and marketing but sometimes you have to stop and say, 'there is nothing we can do.' And you see people just leave (to go home)," one debt capital markets banker said.

This rock-bottom sentiment can be observed right across the financial sector.

Money men once cynically described as the "Masters of the Universe" are feeling powerless to influence, much less prevent a potential unraveling of Europe's monetary union -- a calamity that would define their generation, possibly even the century.

"You have to think that eventually the penny will drop and they'll have to do something. But...quite sensible people were sitting around in 1914 and saying Europe's not going to tear itself apart over some arch duke being shot by a Serbian fanatic, is it?," said Rob Burgeman, a director at British investment manager Brewin Dolphin.

A sheep? form-a-like for the Dow chart?

I had been noticing this form-a-like from the Dow the past few days.

Though the market is struggling to get its traction for a breakout, its been on the downtrend/sell off the past two weeks now.

Just for my own thoughts for noticing the form-a-like sheep because of the approaching holidays.

Maybe the market will surge before the Christmas?, who knows.

But the way I psych the market, seems it will.

The market is also an exercise in psychology and human emotions, I bet the market might get its bearing before the year ends.

See the charts and form your own visualization.

World stocks hit by signs of slowdown in China, US

World stocks down after US cuts 3Q growth estimate, survey shows China manufacturing slowdown

BANGKOK (AP) -- World stocks fell Wednesday after a survey showed China's factories are cutting production and the U.S. lowered its third quarter growth estimate, adding to pessimism from Europe's simmering debt crisis.

Benchmark oil fell below $97 a barrel while the dollar strengthened against the euro and held steady against the yen.

European shares sank in early trading. Britain's FTSE 100 fell 0.3 percent to 5,191.94 and Germany's DAX lost 0.4 percent to 5513.08. France's CAC-40 was down 1 percent to 2,844.49.

Futures augured a lower open on Wall Street. Dow Jones industrial futures lost 0.7 percent to 11,362 while S&P 500 futures slipped 0.8 percent to 1,173.10.

Asian stock markets posted broad losses earlier in the day, hit by the signs of weakness in the world's two biggest economies. The U.S., a major market for Asia's exporters, grew at a 2 percent annual rate from July through September, down from an initial estimate of 2.5 percent. China, meanwhile, suffered a fall in manufacturing activity in November, according to a preliminary survey.

Hong Kong's Hang Seng slid 2.1 percent to 17,864.43. South Korea's Kospi lost 2.4 percent to 1,783.10 and Australia's S&P/ASX 200 shed 2 percent to 4,051. Mainland China's Shanghai Composite Index fell 0.7 percent to 2,395.07, posting its sixth straight session of losses. Japanese stock markets were closed for a public holiday.

Jackson Wong, vice president of Tanrich Securities in Hong Kong, said already weak market sentiment was further dampened by HSBC's China manufacturing index showing a contraction in activity.

The manufacturing gauge fell to 48 in November from 51 in October — its sharpest fall since March 2009. A reading below 50 indicates contraction from the previous month, but the index often undergoes significant revision from its preliminary level.

"The market is still waiting for some kind of price catalyst to bound back. Otherwise, we still trend down bit by bit until something happens," Wong said.

Higher borrowing costs for Spain, meanwhile, renewed worries about Europe's debt crisis. The higher rates suggest that investors are still skeptical that the country will get its budget under control despite a new government coming to power this week.

Investors have been worried that Spain could become the next country to need financial support from its European neighbors if its borrowing rates climb to unsustainable levels.

Greece was forced to seek relief from its lenders after its long-term borrowing rates rose above 7 percent. The rate on Spain's own benchmark 10-year bond is dangerously close to that level, 6.58 percent.
Underscoring jitters was the lack of market reaction to an announcement by the International Monetary Fund that it will provide quick cash on flexible terms to countries facing sudden financial stress.
"Failure of this news to result in significant gains across markets shows just how cautious investors are," Stan Shamu of IG Markets in Melbourne said in a report.

Concerns remain that Europe's debt crisis is pushing the region toward recession, which would slow industrial activity in countries around the world that export to Europe.

Australian resource shares took a big hit after the country's House of Representatives approved a law imposing a windfall profits tax on big mining companies. The Senate is expected to endorse the measure in early 2012.

BHP Billiton, the world's largest mining company, fell 3.1 percent. Rival Rio Tinto lost 3.4 percent and Energy Resources of Australia plummeted 5.9 percent.

In Seoul, auto parts maker Mando rose 2.6 percent on hopes that a free trade pact between South Korea and Washington would boost its earnings, Yonhap News Agency reported.

On Tuesday, the Dow Jones industrial average lost 0.5 percent to close at 11,493.72. The Standard & Poor's 500 fell 0.4 percent to 1,188.04. The Nasdaq composite fell 0.1 percent to 2,521.28.

Benchmark oil for January delivery was down $1.04 to $96.97 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.09 to finish at $98.01 per barrel on the Nymex on Tuesday.

In currencies, the euro fell to $1.3457 from $1.3509 late Tuesday in New York. The dollar was little changed at 76.98 yen.