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Final Trading Session Before The Bernank

|Includes: Baidu, Inc. (BIDU), DZZ, FXI, SINA

This morning, the S&P 500 Index e-mini futures (ES U1) are trading higher by 2.00 points to 1174.00 per contract. The move higher in the futures comes despite the soaring bond yields in the 2 and 10 year Greek debt. It seems that the bad news out of Greece is being swept under the rug at this time. This tells us that the stock market is focusing on Italy and Spain when it comes to the European Union. When markets can move higher on bad news this is usually short term bullish. Tomorrow, the Federal Reserve Bank Chairman Ben Bernanke will make a speech from Jackson Hole, Wyoming. It is at this time last year that the Bernank announced his plan to initiate his QE-2 program. This time around, the Bernank is not expected to mention another round of quantitative easing, however, he may mention some other creative way to add cash reserves to the banking system.  ...http://bit.ly/nwJfLf