Is The Fed Tapering Around The Corner?

This morning, the S&P 500 Index e-mini futures (ES-U3) are trading lower by 0.25 points to 1688.50 per contract. The big story today is the move lower in gold futures (GC). Gold futures are declining lower by $32.00 an ounce before the opening bell. This tells us that the likelihood of a QE-3 tapering next week is very high. High yields on the 10-year U.S. Treasury Note are also signaling that the Federal Reserve will also begin to cut its current $85 billion a month worth of mortgage backed securities and U.S. Treasuries purchases.