1pm update - market holding together

It is indeed an embarrassment to the bears, that the move from 1653 to 1649 constituted an entire 'down cycle'. Sp' is back @ 1650, and where it goes from here, seems entirely dependent upon how the algo-bots interpret the looming Fed-speak.


sp'15min

Summary

With the morning QE out of the way, things are a little simpler from here.

The next significant QE($3bn or more) is not until next Friday. The bears have SIX trading days to knock this market back lower.
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*I am considering a short, but any break >1654, and that will completely dissuade me.