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Bernanke has the Ball

7 years ago9 views


mrtopstep Rich “RAC” Canlione, The NKO Group - Economic releases as of late still soft and some what weak , Bernanke's talk (Q&A press conference has been adopted by US Fed in last several FOMC meeting
as they do in Euro-zone) after "FOMC" meeting likely to state FED belief that
slowing will be transitory(this morning Home price index strength lends an "ear" to that
thinking) as is there belief in inflation. Additionally Mr Bernanke is expected to say
that continued growth is expected to resurface in Q3 and Q4 of this year . Interesting enough
there is a strategy piece by Goldman and Citigroup floating around that supports just

SPX 200Day Avg. = 1257.13 , was retested Yst. in Futures, low was 1256.25 and
was retested in Cash last week during expiration.Negative open interest was seen coming off
from that area based on how Lg. a Tech. level it is. 200 Day Avg. is used by day traders ,
professional money Mgrs, hedge funds and the like .

SP objective =1308.00 as target resistance
SP Q2 close =1325.83, heading for outside Qtr close , last time outside Qtr
close was 6/30/10

US (30Yr) has inside day Vs. Yst. 126'02


DXY good support , 50 Day Avg. 74.64

**Filmed on the trading floor at the CME Group. Produced by MrTopStep with MarketHEIST

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