1:11 pm EDT:  The Bernanke testimony provided some early volatility, but not too much as the projected range was fulfilled within a few ticks on each side.  Impressively  for the bulls, the ES has advanced and is now accepting above the projected range, but still below the value area highlighted below in magenta.  We said in the morning report that we wanted to see acceptance at about 1107.50 to facilitate the next multiday rally.  This is the high volume level for this value area and would indicate the ability to spring higher.  Until that happens, the shorts will hang on.  With the 5 Yr auction over and the ES having consolidated since the morning, we should now get an afternoon move.  1099 to 1100 should serve as support for day trade longs to hang on.  We no longer like a short from 1106.25 to 1107.50.