No new QE which probably was the only thing that could have given this market a boost after this run in the past few weeks. Operation Twist until end of year rather than September/October like many expected. That takes the Fed out of the election cycle. So the heroin junkies will be disappointed that no new QE* until early 2013 since Twist will be running longer than expected.
*barring European implosion
EDIT 12:52 PM – the S&P 500 filled yesterday's gap up precisely on the sell off…now it is back to where it was before the selling. From the financial infotainment TeeVee they have a different opinion than I do about QE. They say the door is still wide open in 2012. "More heroin please."
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