FOMC Anticipation

There is a lot of anticipation going into tomorrow's FOMC announcement, hope for QE 2.0.  The nonfarm payrolls miss is history now.  We have the usual "Mutual Fund Monday" phenomena, even though there are no mutual fund inflows.  On a time basis, this rally should be finished this week.  We have rallied for almost 45 days, which is the usual length of a countertrend rally in a bear market.  This is if we are in a bear market.  However, the sentiment is not supportive of that view.  There is still some skepticism of this rally.