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Sector Detector: Bernanke’s Words Can’t Override His Actions
Posted on March 01, 2012 at 08:46 AM EST
It comes as no surprise that stocks are struggling to break through technical barriers at Dow 13,000, Nasdaq 3,000, and S&P 500 1370. I continue to believe that it will require greater market breadth and trading volume to achieve a major breakout. Even though Fed Chairman Bernanke on Wednesday threw a wet blanket on the bullish flame by playing down economic recovery while giving no hints about further quantitative easing in his semiannual testimony to Congress, the market still wouldn’t sell off much. Apparently, his cautious words can’t override his stimulative actions. [More...]
Alcoa, Inc. Apple, Inc. Baidu.com SP ADR Bank of America Corp. Caterpillar, Inc. Exxon Mobil First Solar, Inc. General Electric Gentex Corp Hewlett-Packard Company Home Depot, Inc. International Business Machines Corp. Kronos Worldwide, Inc. Magellan Health Services, Inc. McDonalds Corp Prudential Financial, Inc. S&P DEP RECEIPTS SEAGATE TECHNOLOGY Tata Motors Ltd. ADS TeleTech Holdings, Inc. UBS AG United Rentals, Inc. Universal Corp. Universal Display Corp VOLATILITY INDEX Western Refining
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