Faith in the Fed

And if I should falter
Would you open your arms out to me?
--Erasure

ZeroHedge suggests that today's opening gyrations reflect declining faith in the Fed. No evidence is presented as to precisely why that would be the case. On the surface, just another morning's worth of movement.

However, if/when faith in the Fed actually does fall, then this game is over. Confidence in central banks is what's holding this market together. If it vaporizes, then so will $trillions in market cap.

position in SPX