12pm update - bears on the edge of another failure

The main indexes are holding moderate gains, and it would seem the bears are back to the same old problem of lack of consistant downside power. A weekly close in the mid 1680s or higher, will keep open the door to a 'shutdown/debt ceiling agreement' hyper-ramp into the mid 1700s


sp'daily5

VIX'60min

Summary

*VIX still holding the channel, but really, its not looking good for equity bears.
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The sp' daily chart probably sums up the situation better than anything.

Yes, we remain in something of a down trend/channel, but really, it is not very steep..and baring some news report to scare the market this afternoon, bulls are close to taking back control
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VIX update from Mr T.



..time for a depressing lunch hour of nothing.