fyi mr bernanke will speak at 3.30pm est probably about how he's gonna make the market hit 2000 by the end of the year
Agreed. I said last Spring that I thought the ECB would eventually be forced to follow in the footsteps of the U.S. Fed, i.e., do what works. And I wouldn't be surprised to see the euro eventually trading at parity with the dollar. Martinghoul, whose opinions on such matters I have high regard for, thought it unlikely that the ECB would follow the Fed, thought the opposition too much to allow them to do it. Anyway, Draghi's announcement should have a depressing effect on the U.S. market, so when I saw that spike in the ES before today's open I thought "that's interesting, I guess the lambs are being set up to be led to the slaughter." Now we'll just have to wait and see if Mr. Bernanke will let the Europeans have a piece of the pie, or give the order to gas up the helicopter.
Technically speaking, if it closes hereabouts or lower, it will be a "failed final flag" reversal signal on the daily. Da Bulls need to get to work!