Tuesday, May 09, 2006
What can be said about yesterday's trading other than that the volume was poor? Considering the fact that traders are awaiting today's FOMC meeting with bated breath we can forgive a poor volume day like yesterday though. Today's meeting has the potential to be a market mover if they can shed more clarity on their position for future rate hikes. Last week the market was roiled after a bit of miscommunication via the media sent mixed messages about the Fed's future intentions. Clarity then will move the market, lack of clarity will likely lead to more indecision.