Almost everyone was expecting clearer communications from the Fed today. What we got instead was a bit muddled. And, most investors and analysts tend toward accepting the gloomy side of things until upward momentum is a given. (And we stress "most.")

It was a good day for profit takers, since they are facing a pair of unresolved matters and the climb up in the gold price has been long and strong.

When the U.S. was locked into a severe winter from December through February (heck, the East Coast is actually getting hammered again today) economic activity was squelched.