The timing:
1. QE1 was announced in Oct/Nov/Dec (?) of 2008, market bottomed in Mar 2009; QE1 execution started in June 2009 where market corrected
2. QE2 was talked in Aug27 2010, market bottomed in July 01 2010; Market dipped in Nov 2010, when execution of QE2 started
3. so far QE3 is rumor, no announcement yet, tonight Obama's speech may be considered quasi-QE3 announcement?