Good morning! Index futures have

Good morning!

Index futures have recovered from an overnight dip. New highs are within reach today. One potential obstacle may be Fed Chair Janet Yellen, who is testifying before Congress this morning. Perhaps her comments will facilitate the rally. Other FOMC members have begun speaking less dovishly, but this morning”s Retail Sales data miss makes that less likely right now for the most dovish FOMC member. So, perhaps the question is less about retesting the high, and more about what would happen next. That question won”t be important if this morning”s open hasn”t resumed rallying.

We”ll look at the indexes during this morning”s Livedesk. I”ll send a reminder at least 15 minutes before it begins. Meanwhile, pre-market observations will be posted to this thread.