2pm update - afternoon weakness

Bears are being teased with a minor pullback this past hour, and it probably is just that...a cruel tease.The hourly 10MA @ 1456 will provide some good support, just as it did yesterday.

The VIX remains muted, and is largely flat.


sp'60min

Summary

So, a little intra-day pullback, but it certainly hasn't broken the near term trend/channel.

At best, bears could hope for a flat doji-candle close, of which we might well have a series across the next few days into opex.

Despite big companies like IBM and INTC showing underlying evidence in Q3 of weakness, Mr Market is still comfortably holding itself together.

As many agree, major falls before the US Election now seem very unlikely.

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