I have markets at an inflection point here. I think significant bear risks remain. Volume was weak on today's bounce vs past days decline.
Under 3377 SPX gets dicey and may accelerate below 3300. Over and bulls have a chance.
I would prefer the bullish scenario (down dollar, boost Gold). But it can go down too (spur the Fed, eventually boost Gold).
Just tallying the numbers... how much of a bailout NY needs... how much of a bailout pension funds need... how much money the Gov has to print near term... how much money the Gov has to print long term for unfunded liabilities...
Pretty sure there's a monetary nuke somewhere along the road and the bullish equity markets are sniffing it out.