24 August 2012

SP 500 and NDX Futures Daily Charts

The market was light volume and lackluster today when a letter from Ben Bernanke to Darrell Issa was released that suggested a bias to ease 'depending on the data.'

This is nothing new of course, but the market players took it as an opportunity to rally.

There were also rumours and speculation that the ECB would take further action to subsidize rates in their soverigns' debt.

Next week is the end of the month and the Republican National Convention in Tampa.

See you Sunday evening.