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The exclusive Markets Morning Report is supplied by The Precision Report.
The Precise Take – Fed inflection
Big Picture Analysis - Yesterday, bulls closed right at 1315 resistance we had mentioned, and overnight, the ES has accepted ten handles higher. While it’s too early to tell if the Hilsenrally is a one-off in a bear market, or the re-emergence of the intermediate term bull, bulls retain the short term edge above 1300. It’s another day of Fed speeches, with the focus on Bernanke at 10:00 am. It is not unusual for Bernanke to contradict the last leak (whatever it might have been), as the Fed gauges market reaction to contemplated moves.
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