Whipsaws everywhere. Gold and Silver soared back up to unchanged on the day and S&P 500 e-mini futures roared over 15pts higher off spike lows to take out the stops at the high of the day-session. EURUSD also dipped and ripped swiping aside everyone's stops (long and short). 60 minutes after the announcement of disappointment but hope to come, it appears the over-reaction to the knee-jerk reaction is being faded now as Stocks, Gold, Treasury Yields, and EURUSD are all falling now. The realization that Merkel's comments were simply fact and nothing new and the stop-hunt is complete provides some food for thought for all those buying this dip ahead of Bernanke's press conference. Beware now.
Gold and Silver wild ride...
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and across other asset clasess - it was Gold and stocks that went full-retard...
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as ES dipped-and-ripped and is now fading back to VWAP very rapidly...
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JPM is holding its gains but the rest of the majors are leaking off a little from the over-reaction spike high...
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Gold remains notably above its pre-FOMC levels as stocks have retraced to unch as have Treasuries and the USD.
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Charts: Bloomberg