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Positive comments from Ben Bernanke boosted equity markets


In his semi annual "Humphrey Hawkins testimony" Bernanke's outlook boosted  equity markets as investors warmed to the idea that Federal reserves  series of interest rate rise may be coming to an end.  Wall Street finished an impressive 212 points to the good, the S&P was up 22.95 and the NASDAQ composite up some 37 points boosted by strong numbers from Motorola and Apple.

European equity markets also took some comfort with FTSE posting a 96 point gain.  Over night Asian markets have taken up the baton with the Nikkei up 446 points and the mining heavy ASX ord index up over 80 points ( which should boost the London market) indeed the early call for London is  up some 43 points as we write.

From a technical standpoint FTSE has done enough to now be thought of as being back in bull mode however for this view to gain credence we will need to take out (and hold above) key resistance at 5843.

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