As I suspected...

The market, like it has in past days, is simply following the EUR/USD currency pair.

 The move up in the market was exactly the same minute as the move up in the Euro-2:38 p.m.
This is a 1 minute chart.

Looking at the trend of the Euro which is very bearish, you can see we have crossed what I would call the official neckline and are heading toward last support, the trend is solidly down. So in my mind whatever occurs here in the afternoon is pretty much a result of a normal bounce in currencies. The overall trend is what is important and it is quickly breaking important support levels.

As I suggested in the last market update, I didn't think that the last pullback would be it, but rather it would be more likely to see a continued bounce. We'll see as the trend unravels.