12pm update - you get nothing!

The opening index gains are holding. Certainly, its not turning out to be a bear massacre yet, but its a lousy end to the week. Dollar is a touch higher, metals slipping lower again, as is the VIX. Anyone who is seeking a break <sp'1480...go steel a fizzy lifting drink.

sp'60min

vix'60min

Summary

Once again, there is nothing good in market land for the bears.

Next week will be all about what the Bernanke has to say, and if the clown media - and market, want to interpret the Chairman's words as bullish, then this market will be massively higher.

A two day decline..perhaps that was indeed the 'correction'.

I will vainly 'hope' for a renewed minor decline early next Mon/Tuesday.  Yeah, its back to the 'hope' strategy again.

Good day.