Well no offer of QE3 from Bernanke yet the US markets (and gold) shot higher.Pretty hard to understand what is going on but I think bears just need to be patient.The European markets feel tired,which is hardly surprising given the economic and political backdrop.I will just post the one chart which is a simple trendline from the highs on the S&P,posted by Sqwii on his blog (link on bloglist) His 1330 resistance zone is close to 1333 which is significant from a Gann perspective as it is twice the 666 low.I also had some EW targets around 1333 in a chart I posted a few days ago.

  I really expected markets to have topped by now,with the various  cycles that clustered .Today was 1080 trading days from the 1576 top,potentially another turn day. We also got aVix sell signal today for stocks,with the Vix closing back above the bollinger band