11am update - waiting for the Fed

A quiet morning..as expected. Boehner spoke earlier, and seemed in a real bad mood. That was pleasing to see. Let them all get into a real bad mood, and fail to agree to delay ALL of the fiscal cliff measures. VIX is on the move..and we do have a minor breakout so far today.


VIX'60min

sp'60min

Summary

key levels...

VIX 17.50s
Sp'<1427 - by the close.

A close of sp <1420s would be...useful..and decisively break the 6 day up trend..