Today's Rally Is Especially Impressive

The rally is fading a little bit (with the NASDAQ on the verge of going flat) but the Dow is up 100 points, and it’s noteworthy.

That’s because Bernanke was perceived as having been more hawkish than expect, and gold tanked.

In fact, here’s a chart of SPY (the S&P ETF) vs. the gold ETF.

After getting taken to the woodshed earlier, SPY has rebounded nicely.

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