No movement today in the US market. It is quiet and calm. All eyes are focused on tomorrow Ben Bernanke's press conference.
At 3.46am local time, Dow is currently down by 1 point, Nasdaq is unchanged and S&P500 is down by 4 points.
Currently we are also taking a quiet stand by the side waiting for the results. Like what we mentioned in the past, we don't expect an announcement in tapering tomorrow. However we know that any hint about a tapering decision soon next quarter will also trigger a selldown.
But somehow or rather, I have a feeling (just a feeling) Ben Bernanke will do well not to suggest any hints of tapering with the low inflation figures.
Maybe, the market may rally with his remarks. We shall see...
Rgds
Daniel
www.danielloh.com
