Just when bulls thought it was safe to go back in the water, the obscurantists at the Fed start mumbling hints again about tightening. Are index futures moving higher tonight anyway simply because the players have grown tired of treating the central bank’s tiresome little game with deference? After a while, this can become more than a little silly, sort of like trying to find existential meaning in Bozo the Clown’s body language. Even so, we hesitate to ascribe intelligence or discernment to the headless chickens, miscreants and algos who move the markets. More likely is that the same mysterious, cyclical forces that determine trends happen to be bullish at the moment, irrespective of what the Open Market Committee implies or intends.