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Wednesday, June 23, 2010

Federal Reserve News Wednesday

Well, the market is showing more weakness on Tuesday, bringing the S and P 500 below the 1,105 level I was watching.

There is a solid zone between 1040 and 1150 for market being confirmed bull or bear market. Also the long term trend indicator documented on left of this blog is narrowing, but not crossed.

With US long term interest rates down, the market looking weak, the Federal reserve could throw it a bone, and re-announce QE, or some other insane fiscal disaster.

Gold held up exceptionally well. If the fed takes a hard line Wednesday, we could see a flush of the entire market. Gold and stocks.

So keep an eye at 2:15pm eastern, let the fireworks begin!

From WebSufinMurfs FinancialBlog2

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