Sorry, Ben, can't feed Wall Street cake and then dilute it too. Gold's dramatic surge to fresh all time highs, more than makes up for the spike in the S&P. As a result, intraday, the S&P500 expressed in the only real currency left (one can hear the giant sucking sound as people leave fiat in droves) is down. In other words, on a relative basis there was more capital going into precious metals, and more specifically, away from linen and other infinitely dilutable paper, than going into stocks.
Update: welcome to the new regime where every Fed intervention or expectation will now mean more push to gold than stocks.