Equities Whip-saw And Edge Down As Fed Extends Operation Twist; EWP Rises, VIXY Sinks

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[Chart courtesy of MarketWatch.com] Equities see-sawed and edged lower Wednesday as the Federal Reserve extended its much anticipated Operation Twist program but stopped short of initiating a more aggressive direct bonds purchase program, which was the exact possibility I discussed in last night’s post. As the chart above shows, the major indexes went on a wild ride, but held up …