1pm update - minor weak chop

Equity bulls have attempted to stall the decline, and we're seeing some weak minor chop  A break above the morning high of 1826 looks very unlikely for some days, and there should (in theory) be increasing downside pressure into the close. Metals are clawing higher, Gold +$6


sp'60min

GLD, daily

Summary

*the action in Gold is somewhat bearish for equities, although it is not helping the mining stocks today, with GDX -1% or so.
--

Still 3 hrs to go, lets see if we can get the first test of the 50 day MA..1809.

Notable weakness; AMZN -3.5%. I'm not sure why that is particularly weak today, but the PE of 10 million can't be helping.