USD now shows bull trend due to taper. Currency guys see taper coming but stocks are caught on last round of exuberance before party over. OEX may indicate a X on Friday but this will be a whipsaw as the transition to taper will begin this month. The last change in policy was announced in Dec 2012 and implemented in Jan 2013. This is a big month for a bull/bear transition in stocks.
http://stockcharts.com/h-sc/ui?s=$USD&p=W&yr=3&mn=0&dy=0&id=p76100461158
We know from Aug 21 that the Fed minutes indicated taper on track. Aug 21-Aug 30 shows that taper is not good for stocks/risk assets and is good for bonds. Stocks are always the last to realize waiting until the last minute.
Lance Roberts sees SPY in 145-150 range by early Nov-late Dec.
Credit Flow Investor 