While the Federal Reserve has laid out specific plans to end their quantitative easing (QE) program, a new season of QE may be getting ready to kick-off across the pond

For the July 30th T2108 Update I described a “quiet bearish divergence” between a plunging T2108 and an S&P 500 (SPY) that was barely budging off all-time highs.

I was ready to call T2108 oversold FINALLY, but a late creep into the close brought T2108 off its lows and right to 20%, the threshold for oversold territory.

Gold Continues to amble along in its wedge breakout vs. European stocks (Euro STOXX 50).

Although stocks generally made a modest decline on Thursday as a result of two disappointing economic reports, the Dow Jones Industrial Average managed to reach new record intraday and closing highs.

Stocks again retreated on good news during Thursday’s session, proving that taper fear is not gone – it has just been reduced to taper “concern.”