22 May 2013

SP 500 and NDX Futures Daily Charts - Rough Seas Ahead

 Early today the markets soared on initial indications from Bernanke of Quantitative Easing, for as far as the eye can see.

Then Bernanke's response to some questions cast some clouds, and the markets reversed sharply. 

Make no mistake.  There is little underpinning the equity market except for monetary froth.

Rough seas ahead. Batten down the hatches.

Ben is pouring oil on troubled waters.  But it may not be enough, or even hazardous in its own right.