El Capo,
I've seen this happen plenty of times before just before a decision is made by the fed to print more money.
Things will start to get volatile again fairly soon while the market sorts through info IMHO.
Due to Spain, the rest of Europe, the US economy showing substantial weakness now and China still slowing (Albeit not as much as people thought initally) there is now only one thing that can occur and that is massive QE GLOBALLY.
We are not just looking at QE from the US.
It will be global. Japan has already stated that it will ramp up QE. China is on to it. Most likely Germany will implement it too. The downturn will speed up in the US from now on unless they embark on QE ASAP IMHO.
It's now game on for PM's.
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