The close for US markets being flat for the SP500 and up 0.45%...

The close for US markets being flat for the SP500 and up 0.45% for the Nasdaq was quite a good outcome for equity bulls, heading into the FOMC meeting tomorrow. December must get a rate hike now; anything less could cause mild panic, and even greater volatility. The VIX is already well beyond its long term mean value. If it turns out that the FED leaves rates unchanged for 2019 I would see a reasonable probability of equity recovery during the next year neutralising the drop from September 2018 until mid-December. 

As far as the XJO matching it's all time 2007 high, that goal still remains quite far away, with our financials still " on the nose ", and no real chance of doing any heavy lifting in 2019.