Equities: Make Or ...

We are at (as per futures) 850-855 level for S&P500. Watch out ...

UPDATE @ 18:00 (16:00 GMT): Busy evacuation in markets ...

UPDATE 2 @ 21:00 (19:00 GMT): After initial reaction to 840, consolidating for last 3 hours ...

UPDATE 3 @ 21:30 (19:30 GMT): Fed published Beige Book 19:00 GMT, Headline suggests: "Overall economic activity continued to weaken across almost all of the Federal Reserve Districts since the previous reporting period.", see full report here.

No sellers on the Beige Book report, but some time needed to digest the details ... Absence of sellers may invite bulls to a new round?

UPDATE 4 @ 23:20 (21:20 GMT): After the Beige Book, the bulls made an attempt to push higher in the absence of bears, but that's, obviously, what the bears were waiting for ... S&P500 revisited the daily lows, Nasdaq " family" made even new lows. Well, the uptrend since November is broken, and next support is seen in the 815 area. The good guys at Bespoke have already made a nice chart, see here. We are in new downtrend (at least in short-term).

Some other technical aspects: 1) the trading volume was highest this year, but still below the daily volumes we saw at beginning of December, not talking about the extreme days in October and November, when volumes were twice of those seen today ... 2) couple of minutes after the close it looks like we are very close to record 90% downside day in terms of volume and number of stocks, but should be checked ... 3) financials/banks lead to the downside... 4) watch the downtrend.