What Bernie Said that the market didn't like

At 2:27 which was the intraday high for the SPY, QQQ, IWM, DIA and Gold, Bernie was asked about inflation and what the F_E_D's response would be if inflation, which is already problematic for consumers as well as manufacturers as evidenced by the PPI and ISM (manufacturer input costs sub-index which is rising while manufacturing is in contraction) became a problem (as QE has ALWAYS been inflationary) would be. While i can't quote verbatim, he said words to the effect hat the QE program would have to be adjusted until inflation was under control (target rate is 2%). I noticed it first in gold, it immediately responded and didn't like his answer; I noticed later the market averages topped intraday at the same minute and the TICK chart broke below the uptrend.

With inflation already a problem, it almost sounds as if the best has come and gone with the F_O_M_C policy statement as actions from here can only be downhill in response to inflation which is sure to be a problem.

The markets are not about what a company's earnings did, their about guidance and if the company can do better next quarter.

In that one question, it seemed as if Bernie admitted we've reached the plateau.

Furthermore, there's a decent article that was originally published by the New York F_E_D on the "surprise effect" of not knowing what the F_E_D may do 24 hours before an F_O_M_C announcement and since the F_O_M_C just seemed to shoot all 6 bullets, it may be of particular interest.

Here's the article...

Here's the chart from the NY F_E_D on what the SPX would look like with the surprise element vs what it would look like it without it.

Now back to seeing what the post Bernie presser action looks like.