While many will be focusing on the stock market today, the 30 year yields may be the battle to look at.

The Fed wants to keep rates low so that mortgage rates don't kill the housing market. At the same time, the yield Bulls want to be compensated with higher yields for higher risk levels, so we will likely see an unusual hi/lo range on today 30 year bond yield tick (Symbol: $TYX).

Note the triple top resistance on the 30 year yield chart below. The odds are that the TYX will rise above the 39.30 resistance today, and that will become a trigger for the Fed to jump in and try to drive the yield back down again.