Ahead of Fed Time, What Might 10-Year YIELD and Spot GOLD be Telling Us About the FOMC Statement?

If both of the enclosed charts--of Yield, and of Spot Gold-- follow-through in sympathy with their current technical set- ups, then we should expect another leg in the direction of their dominant trends: down in Yield to retest 1.70%, and up in Gold to hurdle $1307.40.

And if such a scenario unfolds, then I suspect we are looking at a Fed statement that leans to the dovish side of neutral, which will get everyone thinking that the Fed is more likely to wait, or back away from "rate normalization" for a while longer than the market currently expects.