Ben Bernanke’s put on his best poker face yesterday as his testimony turned out to be a nonevent. The Fed Chairman showed his chips but checked the bet back to Europe who is facing an all-in situation. The bears are also in the pot and they decided to bet the minimum which caused the rally to fizzle as the market finished mixed. The action is now back on the bulls as we head into today’s session.
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Futures are showing a lower start for today’s action and look like this: Dow (-50); S&P 500 (-5), Nasdaq 100 (-6).