Good morning. Futures are largely unchanged, we're set to open at sp'1676. Precious metals are weak, -0.75%, whilst the USD is moderately higher. The next two trading days will be all about how the market interprets the Bernanke-speak. Urghhh.
Well, here we go again. Its the same old nonsense game of not what the Bernanke says..but whether the market interprets that to mean QE will more likely than not..continue.
We really do live in a QE-drug dependent market, and I'm beyond tired of it.
Hourly index charts are very much offering significant gains across the day..and into early Thursday. Bears beware.
*Bernanke will be set to speak at 10am..probably until 1pm, and that will no doubt be given blanket coverage on both clown finance TV networks.