Gold ETF holdings are now back at levels first seen in April 2009. Gold's break below $1,200 likely brought some momentum chasers but Silver is in freefall, down over 5% and back to Feb 2010 lows. WTI Crude also broke below the crucial $81 level.

Premarkets were actually up (+0.05%) this morning in the absence of important US financial news. However the European financial news was all red, tainting the US markets in a negative way.

Premarkets were up +0.20% this morning suggesting that the markets will open higher, but will they stay up and close up?

The averages are still mostly in a holding pattern awaiting the Fed's meeting outcome which I expect to be more of the same and a 'cautious' outlook for the US.

Premarkets were quiet and flat this morning prior to the FOMC meeting.

Premarkets were up ~+0.07% before the morning financial's were reported and dropped to -0.20% when the CPI Core Inflation jumped most in 3 years and US Home Construction fell 6.5%.