The VIX is down nearly 7% post Bernanke’s “QE3 maybe” testimony. However, while internals remain strong on an absolute basis, accumulative tick has rolled over at the mid-day, and price couldn’t quite reach its falling five-day moving average — now testing the VWAP. I expect that to hold its first test, but Tick and the AD line need to reverse slope soon here for bulls to continue to hold the upper hand into the pm session.
