Yellen Update

U.S. indexes closed sideways after FED's Chair Janet Yellen speech. Yellen said Wednesday that the Fed is committed to making sure that the regulations it imposes on the nation's community banks are not overly burdensome, noting a proposed rule issued last week to simplify requirements governing how much capital these banks must hold.

In remarks to a community banking conference in St. Louis, Yellen said the proposed new rule on capital requirements was the latest effort by regulators to ease burdens on smaller banks. She says the Fed is seeking to increase the number of community banks eligible for less frequent examinations and loosen requirements for property appraisals on commercial real estate transactions.

/ES Update: Market got 2-Day Temporary Balance with a bimodal 'B' profile, so above LIS 2533.50 we could see new record highs (PBT 2542) or below LIS some selling pressure back to value 2531.50 and potential liquidation towards the lower edge 2525.

Disclaimer: All information on this update is for educational purposes only and is not intended to provide financial advice.