2pm update - Tea with Benny

The next two trading hours are most likely critical, and will quite possibly shape the next few months. Bears will be looking for a full scale reversal on the daily and hourly cycles. Will the Bernanke inspire the market to sell off into the close?

Sp'60min

Vix'60min

So far the VIX shows no sign of turning back upward, although the 17.00 level does appear to be the immediate 2-4 hour floor.
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We do appear to have got stuck at sp'1390, if this is the top, then it would sure help raise the confidence of the bears if we can close under the 10MA of 1381
 
yours...  ready with the tea.