18 September 2013

SP 500 and NDX Futures Daily Charts - The Fed Blinks

The Fed did not even make a token taper as they thought they might, given that the market was giving them a 'freebie' to break the ice at least.

That they did not speaks volumes about the true state of the US economy. I think the taper is off the table for this year, unless they do a token taper in December.

Bernanke will leave the hard job of the great unwind to his successor.