There is very little economic news out this week, and nothing is due out today. All eyes are on the Fed.

Any time you remove uncertainty, it's good news for the market. Having raised the question, the market has shifted its attention to Greenspan from earnings.

Tech might get a little direction from how people trade Cisco today.

Obviously the Iranian thing is a wild card and nothing's going to get resolved in the short term, but the earnings are really what's key to the market and any longer-term perspective.

The Santa Claus rally is clearly underway. I expect to see the bulls carry the averages to new 4 1/2 year highs right into next Friday's close.

Post 'quadruple-witching', it would not be unexpected to see the market settle down a bit.