The ridiculous up/down/up/down/up/down we’ve been living with in this market for, what, the past 18 months or so – – could it end today? (OK, I’m being facetious; the toggling has only been going a couple of weeks, but it’s absolutely maddening). Looking at the nice bright red numbers on my screen, I suppose it’s possible, but I’ll only believe it when I see it.

A big event would be if the ES can manage to crack 2030.

Even more crucial, though, is crude oil. Oil matters more than Kuroda, or Draghi, or that stinking never-worked-in-private-enterprise dwarf named Yellen. The weekly inventory report rolls out at 7:30 PST, as always, and if we can just keep the weakness going, it’ll make things dramatically easier for the ursine saints.