Zeev, is it possible the Fed will take this opportunity to do what you suggested last year (#msg-530210 and earlier)?
Given the 3-month rally and the current bullishness, would this not be a good opportunity to slow things down a bit? The space below (for cutting) is limited and I'm of the opinion that your rationale for the positive effects of raising the rate are sound. Besides, It would leave plenty of time for a run-up before the election?