11am update - minor chop

Market is just churning ahead of the Fed. Precious metals are slightly higher, with Gold +$7. If the fed re-inspires the market that QE will indeed never end, Gold could easily see very strong gains by the close. Oil remains flat.


sp'60min

Summary

Not much to say, its going to be kinda quiet until the Fed at 2pm.

Even after the announcement, it will be interesting to see how the market reacts to the Bernanke press conference. Often we see a stronger reaction to what is said in the press conf. rather than the 2pm press release/statement.

stay tuned!