It may be that the Fed under its new chairman has managed to produce an even more opaque statement than the ones that Alan Greeenspan was renowned for.
Gold is now at levels not seen in more than 25 years and underlines the concerns about continuing stregth in commodity prices and the weakness of the US dollar.
It will be important to see how the smaller cap stocks respond to the FOMC decision and also to the attempts that traders will be making to record a new high on the Dow.
It has been apparent for some time that old Dow high was proving to be too much of a temptation for traders to resist and Friday's data seems to have provided exactly the excuse required to ratchet up the challenge.
The utilities sector fund UTH is now poised at the trend line through recent highs and it will be important to see whether the sector can establish a new bullish trend.
The Dow still seems to be the index that is worth watching as the assault on the all-time high will continue to be a focal point for traders in coming sessions.
Clive Corcoran is becoming cautious as we approach the old high on the Dow, because he would be very surprised to see a smooth ride through the barrier.
It is always difficult to guage how seriously one should take such swift changes in sentiment based on a news event and it may well turn out today that traders will cast aside their discomfort from yesterday afternoon in short order.
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