Just to play devil's advocate (though I'm long myself) a couple of negatives:
-bearish divergence on the SPX (both RSI and MACD)
-VIX has dropped through the floor (not bearish in itself but raises risk of a sudden drop)
-TED spread didn't continue decline to pre-crisis level, hovering atm.
-USD looks quite bullish on daily though at a significant resistance level.
-Brent crude dangerous if it moves higher on some Fed action (or hint of).
So *potential* for damage either way with FOMC, via oil on one hand, USD on the other. Or not.
Just to play devil's advocate (though I'm long myself) a couple...
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