SP 500 and NDX Futures Daily Charts - Desperately Seeking Buyers for the Bernanke Bubble

The FOMC minutes precipitated a drop in the markets.

Gold and some of the miners were hit hard, with silver, bonds and stocks down to a lesser extent. The US dollar rallied.

The rationale was that there would be no QE and that perhaps the FED would raise rates. Given the recent data from income tax receipts and wages this appears to be more a fantasy than a sound fiscal policy.

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