Today's Video Update: To Taper Or Not To Taper?

Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Wednesday, the 19th of June.

To Taper Or Not To Taper? That's My Question For Ben Bernanke
That is the question on everyone's mind today as the Fed kicks off its meeting at 2 PM, eastern time. Everyone is probably also wondering if Ben Bernanke is going to run for another term. I doubt that Ben Bernanke will want to run for another term, because whoever inherits the current Bernanke mess, created by QE1, QE2 and QEInfinity, is going to have to unwind this trade and that is going to be one colossal mess for everyone. The modus operandi in the USA seems to be that we jump into everything from wars to QEs without figuring out an exit plan. What the market wants to see now, is how the Fed is going to extricate itself from its current bond buying gluttony. Now, that's going to lend itself to some real market opportunities in the future.

Stocks Are Going Higher Today
A recent study by a brokerage company indicated that stocks tend to move higher on Fed days. It concluded that the market tends to move about half percent or more. That statistic and the current technical formation would indicate that the odds are positive that we will see the indices moving higher today.

Forget Yellow Gold, It's Black Gold I Like
The major trend is clearly on the down side for the yellow gold market. Black gold (crude oil), is what I would favor right now. I would trade both markets according to their major trends.

The Gift That Keeps On Giving
With Pres. Obama in Germany today making a major announcement on nuclear arms reduction, it's interesting to see that the Euro/USD cross continues to favor of the Euro. Again, if you look at the fundamentals in the US, you would see that they're not exactly robust. Are all the fundamentals in Europe better? I would have to say no. What is driving this particular cross is the technical setup of this market. If you haven't yet watched yesterday's video on "Fundamentals vs Technicals", I highly recommend you set aside a few minutes of your time and view this video.

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Watch Today's Video Update Here

There's More
In addition to looking at our normal markets, we will also be looking for stocks that are trending higher today. If you haven't watched any of my recent videos, you can watch them by clicking on the links below.

Recent Special Videos:
Gannett (NYSE:GCI)
Gold
Early Warning System
SodaStream (NASDAQ:SODA)
Apple (NASDAQ:APPL)
Yahoo (NASDAQ:YHOO)
S & P 500 (SP500)
Wal-Mart (NYSE:WMT)
Lululemon (NASDAQ:LULU)
Apple (NASDAQ:APPL)
Tesla (NASDAQ:TSLA)
Google (NASDAQ:GOOG)

Have a great trading day,
Adam Hewison
President, INO.com
Co-Creator, MarketClub

Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.