Courtesy of John Nyaradi.
Stocks and ETFs opened the week lower as market participants waited for the German Constitutional Court ruling on Wednesday and Dr. Bernanke’s announcement and press conference coming on Thursday.
Major indexes were moderately lower with the Dow Jones Industrial Average (NYSEARCA:DIA) losing 0.4%, the S&P 500 (NYSEARCA:SPY) losing 0.6% and the Nasdaq (NASDAQ:QQQ) declining 1%. The Russell 2000 (NYSEARCA:IWM) shed 0.35%.
Markets remain nervous over “will he or won’t he?” regarding more quantitative easing and remains a problem as it still waffles over whether or not the country is going to formally request aid from the European Central Bank.
In other major markets, oil was marginally higher and gold declined 0.6%.
So it will be an interesting week as we hear from the German court and Dr. Bernanke and the FOMC.
We remain in “green flag” mode.
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