Bernanke tease unnerves markets.

Bernanke testified today that the FED stands ready to help, but not now. His basic push could be interpreted as a push at Congress to raise taxes. The Markets faltered until the news that China is easing credit again. Financial markets reacted as expected: 1. Spain's bond auction went off at 6.12%, Italy's last auction was at 5.61. Greek unemployment hit 22% and Greece is running out of money. Spanish banks are bankrupt and Spain can not meet its deficit target. Everybody is looking to the Greek elections on the 17th and the FED meeting on the 19th. Gold fell to 1,590 thus it can be said to have bounced off its 200 DMA. Back in the correction.