10am update - morning weakness

Once again the bears are managing moderate declines to start the trading day,  but there still seems a general lack of power on each downside move. With the FOMC next week, Mr Market is no doubt already back to fears that the Fed QE will be reduced.


sp'60min

Summary

Best bear case looks to be the low 1670s, which would make for a somewhat large decline to end the week. There is a clear gap at 1655, but that looks very much out of range.
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*Metals remain weak, although its nothing 'too critical' yet.

It could be worse I guess, I could be long EXPE.

One to watch into next week.