(Watch Bernanke Testimony Live)
Two other factors have been mentioned by traders this morning for today's somewhat aimless trading:
2) the widely publicized rise in stocks that have occurred on the first trading day of the month in the last seven months. Many traders have been positioned long short-term (see the rise in yesterday's market in the second half of the day) and may simply be taking profits. The ProShares UltraShort S&P 500 ETF, for example, has unusually high volume today.
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