You do have some impetus today but there's little conviction and little volume, ... I didn't see any specific reason behind the rally - people may be just trying to outguess the outcome (of the Fed meeting).

That's going to dominate the market today until we get more information. A potential story like this from an OPEC producer brings up the worry that oil can spike to new highs very easily. We see the reaction in equities when oil goes higher. It stops equities in their tracks.

Profit taking will be key words today (Thursday) and over the next couple of weeks. The Fed's rate cut yesterday bodes well for the longer term but near term it is an excuse to take profits. Cisco's story is another excuse to take profits in technology.

The sure conviction that we could if we wanted to is the reason so many good minds are idle.

Don't allow your mind to tell your heart what to do. The mind gives up easily

The U.S. manufacturing ISM index should show a decent gain today, reinforcing the market's conviction that the U.S. recovery is for real.