2pm update - did the market close yet?

The morning gains are still holding, and the main market now appears frozen in time. No volume, no..nothing. The bulls would like a close in the 1430s, but they really only need anything >1423.  The damage has been done to the bear outlook. Bernanke could seal it tomorrow, if he so decides.


sp'60min

vix'60min

Summary

Very little going on.
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Bears could hope for a VIX close 16s, but that is probably optimistic. Often the case, the last hour will see a further VIX wave lower, and close at the lows.

Ugly market...
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One stock of note...BTU, I was reminded it as a few people were highlighting the coal sector/stocks.

Could be a bearish H/S, but until its below the rising support of 24/25, thats yet more speculation. Good company, but...with a difficult economy, could yet hit my secondary target in 2013.

UPDATE 2.10pm Trans..now ticking lower for the third hour.

Yet, frankly, until we sub' 5000 on the tranny, I can't take ANY decline seriously now. A lot of technical damage was done to the bearish outlook today.