It looks like a break below 1,698 will be a first sign of great expectations not materializing.
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The market shouldn't have been surprised by what Bernanke said on Wednesday.
But it was.
The following is a walkthrough of some setups from yesterday.
QE ain't what it used to be.
The market reacted strongly to the 1379/July 19 S&P square-out, giving a 2-day, 43-point decline.
These 19 charts from the St. Louis Federal Reserve illustrate the present economic situation in the U.S.