This market has yet to make up its mind. The more time we spend below 25,000 and away from the attempting the all-time highs, the more it appears that we will see further volatility and potentially test the lows.
Not to mention that even with the Dow closing up +116 points, as it stands there is a very apparent risk-off appetite. This mood could easily change with the FOMC announcement tomorrow. The market is going to do whatever it chooses, and most often when the majority of market participants are bullish, or overly bullish, it is then we likely see the pullback.
We were watching the market today and are leaning toward a bearish sentiment, our eyes are on wide SPX butterflies over the next week. Will we fall? Too early to tell, but one thing is certain. It is going to be exciting!