Today was the first day of the FOMC meeting. Tomorrow they will announce their latest reading of the entrails of the real economy at 2 PM EDT.
It was 'risk on' all the way, as money moved into equities. And Treasuries as the yield fell. Surprisingly those two moved in concert, but on thin volumes. Pretty as a picture. Endless prosperity and no worries.
Gold has now come back down to test the neckline. Let's see how we end the week.
There will be a Comex option expiration next Tuesday for the more important April contract. We are getting closer to a real delivery month, at least in terms of the Comex which delivers relatively little.
Have a pleasant evening.
