Okay, I'll start it off. I can't say I'm really excited, like I usually do. Maybe that's just me, personally, and maybe it's these 2.75 point for four or five hour deals. I suspect, as I mentioned on Friday with that 'odd' late session pop, that this is going to gap up and do a 'gap and go'. This is substantiated by the 'news' that war is now put way off by the details that were hammered out over the weekend. They now have until like mid-2014 for the final compliance and inspections. Too funny, from an imminent strike to delayed almost a year. I wonder how they are going to get their needed war regardless... So, this 'should' be a large gap up, taking out the all-time high I would suspect tonight or no later than tomorrow. If it doesn't do that, that would be a clue to me.

BTW, India tested a missile today capable of carrying a nuke, with a range of about 3,000 miles, which puts Beijing and Europe in range. All this while Pakistan is adding nukes to its stockpile at a rapid pace, ready for 'tactical nuclear weapons strikes'. I'm sure the warmongers will find/start their war soon somewhere anyway. But, what to do about that gas pipeline issue with Syria... What to do... What a messed up world...

So, last I heard the odds for taper to start today is 60/40. Mostly 'they' say it's a done deal. But it may not start yet. Here's my take. If they don't start today, the market will explode, pretty much literally. I'd expect 300 points on the Dow almost instantaneously, especially if they don't say it is for sure starting at the next meeting. Gold and the other currencies would also explode. If they do announce it, especially the paltry amount they likely would (remember, this is not removal of any part of the trillions in 'stimulus', it is only a slight slowing of the over $1 trillion a year in additional upcoming 'stimulus'), I'd expect the market to dump hard, but I don't think it will. It may do a quicky dump initially, even a sharp one, but then it's back to business as usual. I think the taper is already 'priced in' to the market. Tell me how anything negative can be priced in when the market is at all-time new highs? Easy. It would be much higher if it wasn't pricing this in. Since this is just a slightly lower rate of heroin infusion to the 'patient', he's still totally doped up.

So, the market can, and should, climb, since it may still be getting $.80 or $.90 trillion per year to goose it up. It just won't go up quite as fast. Only, mathematically, 80%-90% as fast. Still pretty fast, though. And it's all moot anyway, since, as they coined over at ZH I think, 'taper' will lead quickly to 'un-taper'. It's all so silly, they can't stop, they are boxed in, but they can't admit that or then it's clear the Emperor has no clothes and it all unravels instantaneously. Plus, they want to get those rates down, so selling stocks and pushing that money into U.S. trashuries would do that nicely. I just expect that to happen from 3.20%-3.25%, so I'm not sure right now how all this will line up, if it even does. Just some thoughts.

wonder if they can hit the median line before sending it up and over?

I have an area around lower // of your set, rat. But it's very unlikely that they will drop it that much and reverse today.

Gold just popped up $8 in less than a blink. Hmmmm.

Get ready, extreme volatility should be forthcoming...

I am guessing 'no taper'.

Yep, no taper. Someone knew in advance, I think, with that gold pop.

Any questions about that new all-time high now? Dollar getting monkey-hammered.

Okay, time to head to that 1740-60, and then 1840-60 area in the S&P, and perhaps even 2000. But, as bullish as that sounds, they still want war in Syria (or somewhere) real bad, and the debt ceiling is coming up, and early indications are it will be just as bad as last year. This could really hammer the market. So, I am only intermediate-term bullish until some news comes out. I also want to see if there is follow through because this may be a climax move. I don't see how, given they plan to keep on printing, but at some point this thing has to end. Hence, I expect the final push now, most likely into January (but it could be sooner, even next month), unless some event happens to change the dynamic. I do not see blind exposure to the long side under the premise it must rise to one of those levels I mentioned.

Okay, 'the public' is finally 'all in'. We are soooooooo close.

http://www.zerohedge.com/news/2013-09-20/btfath-here-2nd-largest-equity-inflows-2000-bubble-popped