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S&P500 Emini Futures, Stocks, Gold, even Crude all traded lower after the Fed Notes were released today. Traders may have simply been looking for an excuse to book some gains and they got it. The Fed seemed to play both sides of the street with their remarks but gave no obvious clue that further monetary easing is on the table. They did however leave the door open should the need arise.
When you have a sitting President who is very pro-stimulus, and you are mere months away from a Presidential election, that is a powerful card to be holding. How he plays it is yet to be seen.
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