Not sure about it, first we may have had a volume price reversal on Wednesday, second, next week is fed week and I doubt to much shorting will happen going into FOMC.
One additional comment, the ECB's inaction on rate may sabotage the US fed's effort to reliquify. Few years back, I suggested that having the monetary policy of Europe in one universal body but the fiscal policy still distributed between nations with , sometimes, conflicting interests is not sustainable. We may be entering a period of economic tensions where that axiom will be tested. That could cause this bear market to go on for longer than necessary (thus my medium term bearishness f0orced me to lower my beaq market lows to possibly 1900 earlier in the week).
