The ASX200 has bounced 50 points off this mornings low at 3153. Previous support at 3217 is now resistance, with a close above that seen as a short term positive sign.

Stocks viewed as safe havens such as QBE, AXA, BXB, WOW, TLS are all trading in the black, bouncing off their morning lows.

There is talk that the market is building in a 50 basis point cut as it trades off its morning lows.