Sp'60min
Vix'60min
Will today be a reversal day? So far, there is absolutely no sign of that, but we've a long day ahead.
The Bears with the most lose stops - from last week, would be set to get the kick around 1392/95. So, there is a serious threat of a reverse stop-cascade, which could break us back above 1400.
Clearly, a close of sp'1400 would be a real disaster to every bearish case out there. Right now, a close in the low 1370s looks a distant dream. The Bernanke is probably still having breakfast right now.....will he come to the rescue of the bears this afternoon?
More later.