Sic transit gloria mundi
I would not hold my breath for the usual deep retrace of wave "2" in this case (assumed that the impulse upward will work at the end). Everything is really fragile, any doubth would break the magic. Maybe an R-flat?
SPX 1673 is still possible IF we can manage to put in a small head & shoulders with 1692 as the neckline.News-driven tape? TA says it shouldn't matter, right, it's all priced-in etc etc.
If the QE is really going to be slowed on the 31stRied/Boehner/Obama would already know this informationOne wonders if they are conspiring to make the Tea Party take the fall for itDems get the ceiling extension and O-careEstablishment R's get rid of the Tea Party and probably some promises of no-competes from Dems in some Senate and House races for next termShould be a ~2 week ceiling extension soon if true.
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