2pm update - now its time for Bernanke

Its the last press conference of the year for the Bernanke @ 2.15pm EST. The market will be desperately seeking more 'comfortable' words from King Printer, otherwise, a swift reversal, with red indexes at the close is still a viable outcome. Mr $ is off the lows, and a close in the USD 80s would be important to recognise.


sp'60min

vix'60min

Summary

So..85bn a month...1 trillion a year..and we have a stalling US economy, a heavily indebted Govt, with both the EU..and (once again) Japan in recession.

Thats all bullish though, right?
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Doomer bears should be seeking a close <1427, preferably 1420, with VIX 16.50>. The latter two targets will be...difficult.
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GLD, metals looking weak, the snap level is 165.00

Gold bugs gonna be real mad if red close.

UPDATE 2.30pm There is a touch of weakness, whilst the Bernanke is now answering questions...

Only a red close, < 1425 would please me though, that still seems difficult, with just 90mins left of the day.