Chuck Evans, Chicago FRB says to expect growth to be "extremely sluggish" in Q3-4.  In addition, he sees inflation easing in the near term.  

Though he is a non-voter, this is yet another Fed member, normally hawkish, coming out with tacitly higher concern for growth and lower concern for inflation.

If we could plot "fed sentiment" we would see forecasts for inflation and growth both declining.

As a result, we got a bump up 7 ticks on the day now to 100-06, over the 25 day moving average, and getting close to the 50.  This also has created several positive trends in other technical indicators.