Wave 5 Rally

The Hacker Next Target.........Wall Street & World Finacial Market !!

A fresh wave of cyber attacks that slowed U.S. and South Korean websites this week hit more targets on Thursday, a Web security firm said, while the South's spy agency has said the hacking may be linked to North Korea.

The impact of the attacks, aimed so far at dozens of sites including the White House and the South's presidential office, was seen as negligible, experts said, but served as a reminder that Pyongyang has been planning for cyber warfare.

IMF Predicts Stronger 2010 Global Rebound After ’09 Contraction

The International Monetary Fund said the global economic rebound next year will be stronger than it forecast in April as the financial system stabilizes and the pace of contractions from the U.S. to Japan moderates. The Washington-based lender said in a revised forecast released today that the world economy will expand 2.5 percent in 2010, compared with its April projection of 1.9 percent growth. A contraction this year will be 1.4 percent, worse than an April forecast for a 1.3 percent drop, the IMF said.

The improved outlook for next year reflects differing stages of recovery across the globe, with emerging economies including China helping drive the world out of the worst recession in six decades, while Europe lags behind the U.S. and Japan. Still, the fund warned that the pickup is expected to be “sluggish” and called repairing the international banking system a priority.

“The global economy is still in a recession but we’re inching towards a recovery,” IMF chief economist Olivier Blanchard said in a statement today. “We have to continue with the fiscal, monetary, financial policies which we have put in place.”

Wall Street outlook hinges on 2Q earnings

With Wall Street stuck in a range since May, the start of second-quarter earnings season beginning on July 6 could prove to be a decisive factor for determining how much faith investors should have in an economic recovery, according to Reuters.

After a rally of as much as 40% for the S&P 500 on expectations the economy will begin to turn around by year end, analysts will hone in on companies' projections to see if their hopes are corroborated.

A large U.S. Treasury auction could buoy the market if it shows there is good demand for government debt. Concern that the appetite for debt is waning as the government tries to fund its stimulus efforts was soothed by solid demand in last week's record $104 billion auction of Treasury securities.

Rising debt may be next crisis

What is the history tell us.

Take Break

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Goodbye MJ

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Below 1050, sell more !!

After the market fall for a week, now the market support at around 1050. if the market drop again below 1050, SELL more !! next target will break below 1000.

OECD Raises Economy Outlook for First Time in Two Years on U.S.

The Organization for Economic Cooperation and Development raised its forecast for the economy of its 30 member nations for the first time in two years as the U.S. slump shows signs of easing.

The combined economy of the world’s most-industrialized countries will shrink 4.1 percent this year and grow 0.7 percent in 2010, the Paris-based group, which was founded in 1961 to coordinate international economic policies, said today. The new projections compare with March forecasts for contractions of 4.3 percent and 0.1 percent.

The improved outlook conflicts with that of the World Bank, which this week said the global recession will be deeper than it predicted three months ago. In anticipating a weak recovery staggered across different economies, the OECD signaled that the Federal Reserve and Bank of Japan should not raise interest rates before 2011 and recommended the European Central Bank cut its benchmark further.