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Fed Chair Yellen will be presenting her semi-annual monetary policy testimony - sometimes called the "Humphrey-Hawkins" testimony - today (House Financial Services Committee) and tomorrow (Senate Banking Committee). Her prepared remarks offered little new information over the January FOMC Statement but the Q&A will likely be the most market-moving as politicians likely demand she "get back to work" for the good of the nation's shareholders.

Live Feed (testimony is due to begin at 10ET)

For a Yellen testimony which explicitly focused on "financial conditions" which have become "less supportive of growth" as one of the chief risks facing the Fed's rate hike philosophy, we were surprised to find that the list of troubling developments "related to financial stability" as laid out in the Fed's Monetary Policy Report to Congress which accompanies the chairwoman's testimony, was relatively sparse.

It was just last week when we said that Cushing may be about to overflow in the face of an acute crude oil supply glut.

“Even the highly adaptive US storage system appears to be reaching its limits,” we wrote, before plotting Cushing capacity versus inventory levels. We also took a look at the EIA’s latest take on the subject and showed you the following chart which depicts how much higher inventory levels are today versus their five-year averages.

Via Dana Lyons' Tumblr,

An indicator based on the first hour versus last hour of stock trading has undergone a shift similar to those seen at the prior 2 cyclical tops.

With algos not exactly enthralled by their initial several million reads of the key soundbites in the Yellen speech, they - along with carbon-based traders - are looking for guidance elsewhere. One place they traditionally go to is Fed mouthpiece Jon Hilsenrath, who unfortunately appears to be out of the loop lately, and the best he could do was underscore what the market already noted.