My observations from 10:45 on the markets today...
JPM showing relative weakness today: http://screencast.com/t/1y6V1ImPco9k
If NQ drops below 2120ish with conviction, we could see a decent move down today: http://screencast.com/t/4ZsRnlzcJ
EUR/USD unable to hold morning bounce high...spinning top on Daily: http://screencast.com/t/zbpp0X1m
Mid-point of prior downtrending channel still holding on Daily EUR/USD: http://screencast.com/t/VrRPpFKj
GBP/USD weak today: http://screencast.com/t/iPwM0fLr
Oil still holding in uptrend channel on Daily...just below Fib confluence: http://screencast.com/t/nsloz1vnKt
Foreign ETFs in limbo at the moment after their gap down today: http://screencast.com/t/hvj60jhRwscG
VIXs still in range on Daily, except for VXX: http://screencast.com/t/yXnD8TvOih
YM has breached the -2 deviation level of the shorter uptrending regression channel...if the low of the day is broken with conviction today, we could see a decent move down: http://screencast.com/t/pn5pqsFkGXbV
Markets waiting for further negative (or positive) catalyst?
I still think any major move down and below the August range on the 4 e-minis depends on the strength of the US $ and a major pullback in commodities.