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Macro Discussion on FOMC Day

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This is a portion of the 'Macro Discussion' segment of the April 15 edition of Notes From the Rabbit Hole.  

Here on FOMC day I thought it would be appropriate since the Fed has the power to kick it into gear by pretending to be the guardians of sound financial policy for just one more meeting.  

This could eventually drop markets to technical levels where the plan is activated for both my 'bottom feeder' preferred gold stock sector and for the broad markets.  

Alternatively, if they go 'weak' today on top of the 'Apple relief' pump, you will know their level of desperation or intolerance of anything resembling a bear phase here in this US election year.  In that case, bullish potentials could be activated sooner rather than later.  The Fed is well aware of how tenuous the recovery born of inflation and credit really is.

I 'think' they are not going to blink today, but then again what do I know?  Ben Bernanke is the academic genius with all the answers.  His esoteric formulas on gauging the deflation threat may be telling him something different.  Today should be interesting.

Macro Discussion

This chart shows the Au-SPX ratio, declining within a Wedge to support. Regardless of whether or not stock bulls have one more pump left in them, this is a bullish setup for a pro-gold stance, at least in relation to the stock market.