If this is a third-wave advance, prices should quickly rally toward the 1320-1330 area.
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Has the market already fully discounted a taper in September?
CDS and ETFs are integral parts of the credit markets.
The recent rise in mortgage rates could hit home buyers where it hurts.
The Sell In May Vigilantes caught up with Mr. Market soon enough, putting a nail in the market on May 22.
The market shouldn't have been surprised by what Bernanke said on Wednesday.
But it was.
Gold will work lower, albeit not in a straight line.
As my Dad used to say, "The market doesn't move. It is moved."