posted Aug 22, 2014, 10:33 AM by Katie Shook

This market is waiting on Janet Yellen’s speech today.  The momentum, albeit light, has been decidedly positive for the week.  What is said and how this market reacts I do not know.  What I expect is a spike in volatility.

My guess for today:  the FOMC sees things picking up faster than anticipated;  policy course continues with possible tightening of rates in 2nd quarter 2015;  market gyrates, briefly crosses 2000, then a possibly move back into the 1950-1980 range over the next few days for some further consolidation over a week or two.  But admittedly, this is just a guess.

Process over opinion.

Daily Digits

Daily Digits 8-22-14

Weekly Estimated Range

Weeklies 8-22-14

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