Something tells me that in order to have Ben Bernanke implement another round Quantitative easing, there should be some panic in the markets. We are still far far away from it. Last time I checked it took a VIX near 50 in order to have QE2 and Operation "Come on baby let's do the" Twist !
In other words, no panic , no QE !
I think the market can still crash down to around SPY $115/$110, which would then show a VIX near 50.