SHORT TERM: market closes mixed in moderate trading.

Stocks opened higher today, but the techs weighed stocks lower until around 1:00. FED Chair Bernanke gave a speech at 1:30, directed mostly toward politicians, responding to the recent rhetoric about inequality in salaries. His message was basically: to take away from those that have succeeded, to give to those that have not, does not help the economy. But to train those that earn less, so that they may earn more, helps the entire country to raise to a higher economic level. Stocks rallied a bit after the speech was released, but I believe it was looking for more information on the current economy. Tomorrow at 8:30 the Q4 Productivity number will be released and Unit labor costs. Then at 3:00 the Dec. Consumer credit report. Bonds rose nearly 1/2 point, Crude was 35 cents higher, Gold tacked on another $2.50, and the Euro rallied. At the close: SPX/DOW were about flat, and the NDX/NAZ were mixed. An improvement from earlier levels, but not much. The SPX/NYA did make new bull market highs today, however slight. Short term momentum did get a bit oversold at the lows, expecting a short term rally soon.

MEDIUM TERM: bullish

LONG TERM: bullish.