Just a guess and I will probably be wrong. NO QE3 from the FED. Not a chance.
Europe is about to get messy as some countries that need funding will NOT adhere to the terms of loans/bond buying. If the German Judge decides against the ECB...another look out below and I believe we break out of the channel to the downside. Lots of risk this week for longs.
All this is just my opinion of course...I am wrong lot so I am not expecting much.
Charting the SPY out it looks like we are at the top of the channel again.
Not a terrible downside 141ish unless we break into the lower level of the channel which should drop us below 140.