I would imagine there is still threat - but decreasing each hour, of a cool down to the sp'2025/20 zone (with VIX 20/21).
A daily close >2065.. will give strong clarity the 2100s are coming.
*more than anything today...it is incredible how relatively stable all aspects of the capital market are right now... currencies, bonds, equities, are all trading very well, after what was a very key financial event.
As for Yellen....
So far she hasn't given the market an excuse to flash lower... and as I type... sp'2065.... the bears are losing ALL reasonable hope.
2.59pm.. The 2pm hourly candle... POWERFUL.... breaking about declining trend/resistance.
Market could close around 2075... and that would likely make 2025/20 out of range in the near term.
3.00pm.... Hey... look who is trying to pass himself off as a media hack...
Its a rather mediocre disguise... the Ben Bernank is there to protest against end of ZIRP ?
ps. Every time Yellen uses the word 'transitory'.. it adds 8pts to the Dow.
3.19pm... sp +22pts @ 2065... trading above the 50/200 day MAs. . with VIX 17s.
Difficult to envision market selling down to 2020s now... as Asia/EU markets will likely rally tomorrow.
3.24pm.. Two uses of 'transitory' in a single sentence.. so that is 16pts to be added to the Dow.
... and a third.... lol
Sp' is battling for a close >2070..
... a fourth transitory in 90 seconds. Thats 32pts for the Dow
3.31pm.. Market is breaking UP and away... sp @ 2071.... as bears getting ground OUT.
3.34pm.. POWERFUL gains for the two leaders - Trans/R2K... 1.7% and 1.4%... confirming the market is headed UP.
3.37pm.. Yellen wraps up... sp'2073... with VIX 17s.... pretty clear now... isn't it?