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Bernanke Speaks

Prior to Helicopter Ben's testimony to Congress today, the markets attempted an up-move.  Apparently just as he began addressing Congress the markets began to book profits and values continue to move lower on the day as Ben stated that there is "unusual uncertainty" in the economic outlook.

Earnings data from AAPL initial pushed its value to 265 and bolstered the Nasdaq, but as the markets fell, AAPL could not sustain its upward push with the gained ground and finished up by a little more than $2.00, ending at the lower end of its trading day.  Most of the equities traded ended with more bearish option activity than bullish activity.

Oil inventory surprised as numbers identified more supply than expected, resulting in lowered oil values.

Bottom line, the markets remain indecisive and the "Summer of Recovery" may be nothing more than a "wish" from the President and his Crew.  As I see it, nothing has a "real" fix, and the "Financial Reform" bill may very well end up with more negative unintended consequences than the positives being touted by those whom passed and signed the Bill. 

Corporate America is telling us, through earnings and projections, where they believe the economy is going.  Currently, however, it is not being translated into a single direction but rather a choppy and volatile market that swings up and down before settling at the end of the day.  Rangebound and choppy is the trend as I see it.