Bernanke said on Friday the Fed will have to remain exceptionally alert and flexible, adding that the housing slump and rising energy prices probably will create some "headwinds for the consumer in the months ahead." Looks like an interest rate cut at the Dec 11 meeting now is a sure thing. Stock markets trading higher after the comment as the renewed risk appetite is back on the table.
EJ is trading below the daily pivot point of 162.80. 15M and Hourly bolinger bands are poised to the downside. I'm still holding on to my short position since Friday hoping price to slide down to 161.80, with some prfoits locked in.
Daily Pivots: 159.78, 160.81, 161.78,
162.80, 163.78, 164.80, 165.77
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