S&P500: Proposal to extend QE brings market rebound

Word that Quantitive Easing may be extended in order to quieten the Markets may have been the cause of today's great rebound. However, the trend is still downwards. Perhaps the slope of the downtrend will moderate. On the other hand, once the Bulls see that the QE rumour is not bringing a full recovery, the down-plunge could become as sharp as before. The fall of the SPX500, according to my graph, form 19 Septo 17 Oct 2014 was 9.4%. The rebound over the last two days was a creditable 3.6%, but falling back as I type.