• S&P 500 futures -0.2%
  • Nasdaq futures +0.3%
  • Dow futures -0.3%

Despite the earlier optimism, it belies the more tentative and guarded mood in the market overall. Equities have been all over the place in US trading this week and today may be no different. In trading yesterday, stocks closed lower and that continues to point to more cautious sentiment as we look to wrap up the week.

The market seems to be a bit caught between "this is just a slight correction" and "okay, this is going to get ugly" and I reckon only the charts will be able to provide us with a better sense of that. A look at the S&P 500 index:

For now, dip buyers are still hanging on but if we do see a break below the October and July lows from last year, that could really see the selling accelerate in the sessions ahead.