Sentiment is as bearish as I've ever seen it. Shorts who thought 1180 SPX was a gimme are trapped. Many stocks that have had decent breaks (GE, CSCO) are large enough Index components that if they have even MODEST bounces off their lows they will POWER this stuff to new highs. Oil was POUNDED yesterday after the close and it seems that a near term top may be in. Back month Gasoline is still priced under two bucks a gallon. Four year lows in unemployment, a perma bid below because of good 2nd quarter reported earnings, I see NOTHING that can stop this stuff before November.