Unreported by the press, to the best of my knowledge, there were food riots in China around the 20th of Feb. because of the rapid increase in the price of commodities. Rumor has it the big fellas in China have told The Ben Bernank that enough is enough and QEIII better not happen. If the Fed pulls the rug out from under the bond market stock prices are going to fall sharply. Current market behavior suggests the high at 1344 is in. Not making predictions, just trading what happens and what I've heard. For all you Quants out there...it's time to start adjusting your models or running multi-model systems.