Ol' flip-flop Ben Bernanke spoke today and stoked some fears in the market over inflation and created doubts that the Fed would lower interest rates in the months ahead. Many investors were assuming from last week's Fed meeting that inflation wasn't a problem and that we'd see lower rates ahead. Stay tuned! It seems as if the Fed is content to keep as many folks off-balance as possible.
(I think they're crazy. Inflation is rather tame.)
Anyways, the market sold off hard early and then bounced back and looked as if it were going to stage yet another miracle comeback and blow to the bears. Today's surprise ending was that there was selling into the close. Internals today (and yesterday) were weak.
We are heading into month end and quarter end. That could lend some support to stocks over the next few days.