Wednesday, June 20, 2012

Bernanke Spoke...Market Reaction.

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Federal Reserve Chairman spoke today and basically just bought some time. They extended Operation Twist , while maintaining about the same language as its prior statement. Read Fed Statement 
They left the door open for a possible QE, at first the market was disappointed...but rebounded as they read into the statement.
ITZ is looking for a pullback near term to the Inverted Head & Shoulders Breakout (neckline) level. Then a reversal rally to the measured move on the IHS around 1400.

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