GLD

Gold is of special interest after yesterday's F_O_M_C_ policy decision as it is very sensitive to QE historically.

The charts since exactly 2:27 yesterday, which I talked about as being a very specific question to Ben about policy response or changes in the program due to rising inflation, caused what looked to be concern first noticed in GLD, but as I showed last night effected virtually every major asset class at the exact same time.

While we have longer term charts that may still be on track, I'm focussed on charts and developments since the policy decision was announced which.

Here's GLD which thus far is not showing the same exuberance as equities. What would be a key piece of information is whether GLD is accumulated or not in a potential pullback. After QE-2 there were 4 days of pullback as shown in a chart yesterday, that's where key information will be found.

GLD

 A relative negative divergence yesterday halts GLD's advance and puts it in a range until Bernie speaks, at 2:27 you can see the divergence on the 1 min chart grew worse and that was the intraday high and the exact time the question was asked.

The 2 min GLD chart thus far as it is near unchanged on the day.