Saturday Night Quarterback (on a Sunday) says, For the week ahead expect…
I’m hoping for some clarity this week on the market trend after Friday’s wild day. Friday’s intraday moves summed up the uncertainty about the direction of this market.
I’m hoping for some clarity this week on the market trend after Friday’s wild day. Friday’s intraday moves summed up the uncertainty about the direction of this market.
Until the S&P 500 can decisively take out the January high near 1850 we remain in a trendless market in my opinion. Lots of action but little in the way of net gains or losses.
All it took to create today’s 1.4% gain was a speech by Federal Reserve Chairman Ben Bernanke saying that the Fed will keep its current “highly accommodative monetary policy for the foreseeable future.” Unemployment is still too high Bernanke noted and inflation too low. “Both sides of our mandate are saying we need to be more accommodative.”