10am update - time for more Yellen

US equities open a little lower, but until we're back under sp'2100.. it is nothing for the equity bears to even get moderately excited about. Yellen is set to address the US congress for the next 2-3 hrs, and Mr Market will be closely listening. Gold opens +$4, but looks set to turn red. Oil is similarly losing early gains.


sp'60min

Summary

... so... here we go again....  another few hours of the CEO of Print central.

Time for a valium, wine.. or something.

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Notable weakness...

CHK, -10% on lousy earnings.

Seen on the bigger weekly chart... downside target zone remains 12/10.. by mid/late summer. I am a fan of the company..  but there looks to be very viable downside of a further 35/45%.

*the late summer looks to be 'shopping cart time' for a great many of the commodity related stocks (for those that think we rally in a hyper-bubble into 2017 or so).


10.36am.. Is it me.. or is Yellen starting to get annoyed?

VIX has been smacked lower... despite minor equity declines... to the 12s.


10.39am... Oh noes.... here she is...

Representing the American people

Train wreck TV.  The film 'still alice' comes to mind.