With bacon gracing everything from muffins to milkshakes, U.S. prices are poised to retreat from an all-time high as the fad wanes and pork supply rebounds after last year’s historic drought.
The S&P began pulling back from the highs yesterday for two taper related reasons. First the deal in Washington opens the door for a Fed taper next week. Second, the S&P gave a push toward highs early into Tuesday's session and set up a technical failure.
While it is very difficult to profit in sideways markets using futures or equities, it is much easier to set up strategies using options that will profit in a sideways or range bound market.
The yen strengthened from almost a six-month low against the dollar as a decline in global equities spurred demand for the currency as a haven amid speculation its recent drop has been too rapid.