10am update - minor declines

The main indexes are moderately lower, with the sp in the mid 1740s. There should be strong support in the 1740/35 zone. A daily close <1730 looks highly unlikely this week. Metals are weak. Oil is seeing further sharp falls, -1.9%. VIX is a mere 4% higher.


sp'60min

sp'daily5

Summary

The declines are indeed very minor, and there should be good support in the 1730s...and that won't be easy to break into.

With significant QE today. equity bears face the same old problem.
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NFLX is again especially interesting to watch. Icahn selling half his stake has upset a few, but the stock is clearly oversold after its fall from $396 to $315.

A bounce into the 340/50s looks very viable.