All taper talk is about cooling hot markets off. Inflation however is not near targets at all therefore QE continues. But the market gets nervous anyhow when they talk of taper.

The Fed will signal taper in the next meeting as the market is ‘too hot’ right now.  I would expect a fall to 166-168 range by Nov. 20.  SPY will then rally to high again on Dec 18.

Until inflation reaches ccpi 2.0 perhaps April? next year, the rebound game continues. Down after Fed meeting and up on Fed minutes.  After Fed minutes, any ROC20 -1- and OEXd turns above 4dma buy, and sell on Fed meeting.  I prefer not to short, but rather play rebounds in bull market.  In a way, a very useful market.