[yorkie]

To me, it looked like he was looking just above the camera the whole time. Actually, staring at it! (No way he could have memorized a speech more than three sentences.)

[cc2k]

Probably used something like this:

I noticed his eyes moving left to right like he was reading from the prompter, but he did appear to be staring directly at the camera (the one for the television feed to the networks). A separate camera was used for the web feed. It was below and to the side a bit. On the white house website and YouTube channel, he's looking a bit up and to the right.