WHERE FROM HERE?

The markets managed to close at their highs and the charts are looking a bit interesting. It looks like we can get back to the 1290 area which is also the distance between where we are and 1250. The momentum indicators seem to be saying that the short term bottom is in and after watching the afternoon post FED announcement action, I would agree.

The Volatility indexes are right back to normal at their 10 day SMA's so maybe things are calming down and we can begin the slow drift higher.