Stock markets analysis.

At the beginning of the week I posted my expectation for rebound for financials. This market is strongly oversold and high volume indicates reaching lows.

Oversold market shows signs for rebound today. Two positive earnings results came from Intel (INTC) and Wells Fargo (WFC). Also blue chips like Procter & Gamble (PG) and Colgate Palmolive (CL) have confirmed outlook for 2008.

Technical analysis for Dow Jones Industrial Average signals crossover for MACD together with bullish double bottom with RSI (15).



Update: Finacial SPDR (XLF) closed trading session 12.64% higher!!