10am update - continuing minor weakness

The main indexes are again showing some weakness, with the sp' vulnerable to a break into the 1680s. VIX is showing only mild concern though, +3% in the 14.50s. Metals and Oil are seeing minor chop. Despite the early weakness, this is very likely just a small pull back.


sp'60min

sp'daily5

Summary

Next soft level of support is 1690, if that fails to hold, then we'll probably go the all way down to the 1680/77 zone, where there are another set of resistance/supports.
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One thing though is clear, the bears ARE themselves still weak. We're not seeing any real downside power. Market is merely slipping a little lower each day, and you can be sure the next big up wave will be here soon enough.
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Despite equity weakness, FB now +2%.