10am update - opening weakness

The main indexes are moderately lower, with the sp' set to break into the 1750s this morning. Bears will no doubt struggle, but there seems 'reasonable' chance with not much QE this week. Metals are seeing a dead count bounce, with Gold +$6. Oil is similarly higher, +0.6%


sp'60min

sp'daily5

Summary

I think the hourly/daily charts are both pretty much offering the 1730s in the near term. Certainly, it will likely take another few days to get there, but all things considered..'probably'.
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Notable early movers..

RIG, a touch higher, despite the weak market.
TWTR, -1%...a break <40 seems likely.

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10.29am.. opening black candle on the VIX hourly..tells the tale...of a fearless market.

Bears really struggling just to keep the market red.  I still think we'll trend 'somewhat lower', but as ever...it really is tough just to see declines of 0.5% for more than an hour, urghh.