3 Minutes Ahead Of The FOMC, Equities Remain QE-Prone As Commodities And Treasuries Lose Faith

Tyler Durden's picture

After QE-based disconnects last week (Gold rallying with stocks and USD weakness as Treasury yields drop), the last day or so has seen these relationships fading fast. Gold and Treasuries have resynced at a much less sanguine on QE level and the USD is gaining modestly leaving stocks by far the most 'hope-full' asset class for now. WTI crude is back below $82 also - hardly a NEW QE indication of conviction. The major financials continue to push higher though the sector overall just limped back to unch on the day. With ES dropping back to overnight lows, we suspect the realization is gradually reaching the smart, sexy stock traders that their exuberance has removed the punchbowl once again.

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Cognitive Dissonance's picture

The financial system will, sooner or later, be "prone".

falak pema's picture

 

 pronto prone...sounds nice...later prone boned!

 

Haddock's picture

Crude down: well, there's an election a coming...

LawsofPhysics's picture

Exactly.  Regardless of what anyone "believes", you still need certain commodities in order to do any work at all, period.  Like China, I think I may have to buy into this dip.

Alea Iactaest's picture

Look at that candle RIGHT NOW. Straight down.

DOT's picture

Can I sell a Note to you , mr. Bernake ?

ArkansasAngie's picture

Ben will print

He may decide not to tell us he is printing however.

LawsofPhysics's picture

ZIRP is printing.  Unless of course you really believe that there is no real cost for creating capital, especially when nothing of real value is being created in exchange.  The capital and resource mis-allocation and mal-investment continues.

flacon's picture

A centrally planned nightmare...

AnAnonymous's picture

A centrally planned

___________________

As has been the US since inception.

akak's picture

Hah! So says the Chicom troll and apologist for Chinese Communist totalitarian rule, not to mention the imperialist blobbing-up of neighboring nations and peoples into one massive, centrally-planned People's Republic of Nose-Picking and Roadside Shitting.

Make me laugh!

Abraxas's picture

Look at the bright colors on the chart. Definitely gay.

WhyDoesItHurtWhen iPee's picture

Ponzi Punchbowl, the fiat drink of TBTF banksters.

FranSix's picture

I got the FOMC policy statement last night along with the wrestling scores.

Conman's picture

So looks liek wee  jsut twist till the end of summer like everyone expected. Goldman screws the muppets again.

orangegeek's picture

Elliott wave count  on WTI oil remains bearish.

 

http://bullandbearmash.com/index/oil/daily/

GoinFawr's picture

Oh ghawd yes, I am such a very exuberantly sexy smartaleck. hoo hoo!

http://www.youtube.com/watch?v=1zQ9bu0ASZI&feature=related

'Thanks' Ben, you make the fear predictably palpable; like the phoquing clockwork orange you are.