Let's see, the stock market rallied while economic data was weakening. Yet bonds were rallying at the same time, and yields have been plunging -- to near record-lows of 2.75% in the 10-year! This was a great dichotomy that had many people scratching their heads. Why would stocks rally and bond yields plunge while we got weakening economic data?

Well, if they were fueling up the helicopters, that would make sense.

Remember the bond market is often "smarter" than the stock market. The plunge in yields has been telling you something. Is it not interesting that the stock market and bond rally continued until the Fed announcement and then failed on yesterday's news? Sell the news, baby.

Don't you love it when two grown-up colleagues start calling each other names on their own broadcast? Steve Liesman and Rick Santelli really went after each other today. It all started when Liesman called Santelli "ignorant" and Santelli fired back for Liesman to "grow up."

There are increasing signs that China's heading for big economic changes, and that will likely fuel an increase to the market chaos. The most recent speculation involves a potential upward revaluation of the Chinese Yuan against foreign currencies. Goldman Sachs Chief Economist Jim O'Neill (no lightweight) -- says that something is brewing in China as they may be preparing the revalue the Yuan higher by as much as 5%. This would represent another leg of Chinese monetary tightening. China has been tightening its monetary policy by requiring banks to increase reserves. It has a history of raising reserves repeatedly when it goes into a tightening mode. A Yuan revaluation would represent a big move to cool off growth and stave off inflation, which has been increasing in China. Marketwatch reports that real-estate prices on the Chinese vacation island of Hainan have increased 30% in one week.  That's almost the definition of hyperinflation.

Today is Fed day. Otherwise known as money-printing day. The statement will be interesting because it's starting to get to the point where the market may no longer trust the staus quo (money printing). As usual, watching how the market reacts to the statement, rather than the statement itself, will be important. Particularly, watching the bond market. Will the market start to lose trust in the Fed? Here are the big questions I have about our folks in Washington who are manning the printing presses: 1) How long can they keep printing money before the bond market rebels? 2) How on earth do they manage and "exit strategy" on this, without destroying the equity markets: 3) Related to #2, in more detail What do they do about this? 4) Gold is becoming a problem for them. What do they do about this: 5) Do they really have a plan? Or are they just making stuff up as they go along?