A Range Is Developing
Ben Bernanke is offering no hints on further quantitative easing in this afternoon's speech, and with the poor action today in Europe, I'll be surprised if the buyers do much going into the finish. The poor action in Google (GOOG), Apple (AAPL) and JPMorgan (JPM) isn't helping the mood either, although breadth isn't that bad and we have some strength in MasterCard (MA), Starbucks (SBUX), Monster Beverage (MNST) and Chipotle (CMG).
Overall, we are at any interesting juncture as a trading range is developing. We have the lows on Tuesday, which are key support and the highs yesterday, which serve as resistance. Momentum players will be looking for a move through either level as a sign of a developing trend....105 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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