Why the Fed matters.

See if you can pick where the Fed press conference was on this 5 day chart of the S&P?  Soon as we start going up volume drys up.

Before the Fed had to actually do QE and QE2 to make the market move, now they just hint at it and we get the same effect.  Here's the fun part no ones seems to talk about.  QE3 what's the cost?  See if you can spot where of this 5 day chart of the UUP, dollar index etf, the Fed conference was?  So are stocks really going up or is the dollar going down and since stocks are bought in dollars the price is just adjusting for a dollar that's value is declining.

Dollar goes down guess what goes up.  Everything else.  Here's the oil chart.