Bond prices down

Bernanke told the Joint Economic Committee of Congress last week that the Fed's actions ``will help to promote growth over time and to mitigate the risks to economic activity.''

The bond market is looking much like it did in December, when yields rose as much as 0.27 percentage point to 3.91 percent on average. The increase followed the Fed's Dec. 11 decision to cut its target for overnight loans between banks to 4.25 percent.

The slump in Treasuries since the bailout of Bear Stearns was interrupted on April 4 after the Labor Department said company payrolls contracted by the most in five years during March. At the same time, wages grew at the slowest pace since 2005, bolstering speculation that inflation will decline as Bernanke said it would.

The April 4 rally wasn't enough to keep Treasuries from declining last week. Two-year note yields climbed 17 basis points to 1.81 percent, and are up from 1.24 percent on March 17, the lowest since July 2003.

april 7 sp500 4 days of dojis watch out

4 days of Doji's with decreasing volume. Looking for the next piece of news to get direction.

last rally to 1431 or a fall SP 500

Looks like we are approaching the turning point for this market. Our area of resistance is holding and there could be another push up to 1431. If it does this we can consolidate higher. The charts are showing a more likely scenario of a drop to 1257 to test the recent swing low and if support doesn't hold we could see another 100 point correction.

We shall see,
always trade with stops.