Yesterday appeared as a classic end to the Bear Market of 2011. Following a drop of over 400 points, the DJI took off on a 660 point reversal. It appeared to be a classic Bear Market reversal. However, the reversal took place not on a classic FED action, but on a promise that the FED would continue its inaction. So, the Market is dropping again. Clearly, Investors are expecting a QE and stocks will drop untill the Market sees the green.
In the Gold Market, the rally continues. After yesterday's test of 1764 twice, gold is up again at 1,772. Mining stocks were up earlier the sold off again. As you see from the graph, gold is beginning to rise in a hyperbolic fashion.
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