NO QE3 yet? Only Operation Twist

This will spark the next bear market until the DOW reaches 11800 in my opinion.

This is because the FED only decided to extend operation twist and perhaps launch QE 3 in September.

The FED only wants to support the market. Since the market is way up high, there is no reason for the FED to pump equities yet. As a result, it will wait for disaster such as the DOW falling to 11800 before it announces QE3 and thereby pump all US stocks again and all other assets.