move up today reportedly on the expectations of QE3. who really buys on the hope that govt will act or react?

the chinese manufacturing activity rise more  likely the cause.

have broken the hourly down channel to the upside.
the retracement trade inside the longer term down move is long to 1191 and then to 1241.
the long entry was adjusted down to 1143 from 1149.

a move down thru 1135 could start a new move down.