S&P Breakout on ECB Intervention

As most rumors were indicating, the ECB announced today an "unlimited" sterilized secondary market bond purchasing (primary short term duration).

Looking at the S&P 500, there was a clear pattern of a downward trend from the mid August peak...until today.  That's quite a breakout today and potentially justifiable depending on the success of the intervention as we've seen what QE1/QE2/Operation Twist has done.  

The next few days will be interesting to see if the market can sustain the sudden pop or if it'll continue the trend.  But sometimes, you can't argue against the printing press...