by Greg Guenthner
Daily Reckoning
The financial noise machine has drowned out the real story behind this week’s biggest market moves…
The Fed decided to keep rates unchanged. Shocking! But while everyone else was parsing Fed statement language, a critical bounce in one commodity went largely unnoticed. More on this in just a second…
I told you yesterday that the market has remained in flux this week thanks to the Fed. Trading dried up just before 2 p.m. yesterday as everyone waited for the announcement. Of course, there was speculation floating around at to how Janet & Co. would react since the markets have been so weak.
“But ultimately, no one knows what will happen—or how the market will react,” I wrote. “We’ll just have to wait and see.”