UPDATE: S&P 500 crosses 1,800 (35-point swing off lows – which perfectly hit the 50DMA once again); USD starting to weaken along with bonds
Well that escalated quickly… Stocks cracked lower instantly on the taper news then soared above recent highs ripping through the order book… but are fading back now as we prepare for Bernanke’s last press conference. VIX was smashed lower (from over 16.6% to 14.1%). Gold and stocks spiked up pre-FOMC in an interesting move. Bonds are rallying as rumors of BoJ buying 5Y hit the market and the USD (despite considerable vol) is back to unch.
The initial weakness in stocks and bond and gold has faded
and the 5th Hindenburg Omen has appeared…
VIX is being monkey-hammered lower…
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/c5Mh-6RF2Rs/story01.htm Tyler Durden