This morning, the S&P 500 Index e-mini futures (ES-U3) are trading higher by 1.50 points to 1656.25 per contract. Already today, there have been several members from the Federal Reserve talking about the expected QE-3 tapering. It appears that one fed head says one thing and the next fed head says the opposite. The central bankers have now mastered the art of contradiction. This is one of the reasons why it is so important to use charts and not to trade off of the news.
