Bernanke opened his mouth again

Yesterday evening we had again FOMC meeting. What is the feedback? In Bernanke's view that the economy will recover later this year and this result allows the FED to taper its asset purchase plan before the end of the year. The taper of the $85 billion/month bond purchase program would come in September, October or Decembe. All the US indexes turned into red after the meeting:

DOW: 14,898 -105 0.70%

Nasdaq: 3,600 -14 0.38%

S&P500: 1,643 -9 0.57%

After the U.S. markets' wider view, detailing now the Dow technically.

From current levels - 14,910, we could have a re-bouncing in the following couple of days, but we need to have a confirmation today after the falling knife pattern. Last night was retesting support at the 14,820. Looking ahead, significant resistance holds at 15.000 if it is broken the way opened up to 15,300. On this wider view, the Dow has returned to a range of 14,700 and 15,600. We still see bullish sentiment on the markets.

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