Technicals

FXstreet.com (Barcelona) - Confidence into global economy seems to have returned to the markets, and stock markets around the world registered historical rebounds to the upside on news about U.. and European government plans to bailout banks, the Dow Jones went through its largest rally since 1933.

After a horrible week, with the Dow Jones falling 22.1% after for eight consecutive days with losses, yesterday the NY stock market posted a 11.08% increase on a glimpse of optimism and the possibility of buying bargain-priced stocks. The Standard & Poor's Index rose 6.22%, and the Nasdaq Index advanced 6.34%, both indexes fell more than 15% during last week.

European and Asian Markets have also felt the increase in confidence, boosted by coordinated plans from European governments to increase banks' liquidity by injecting millions of dollars in loans and share purchases. Uk's FTSE rose 8.26%, while the German Dax Index rose 11.40%.

Same accounts for Asian Stock Markets, Tokyo's Nikkei Index rebounded from its worst week ever to post its largest daily rally, on U.S. and European governments' plans to save banks, Nikkei Index has increased 14.2% with Sony Corp., Toyota Motor Corp. and Mitsubishi UFJ Financial Group Inc climbing more than 14%.