The CAT high matched the first interim high in the Equity indices today. Now IBM needs to hold in here. All new strength is needed over 190.50 for the Equity indices to remain buoyant, and start a leg up.

If IBM remains under pressure after 3:30 EST, it will likely take everything down with it. Watch for general market tone in the final half hour of NYSE trading.

The next downside level of interest is around 182.50.

Let’s see if the lemmings have enough energy to scrape themselves off the canyon floor for another run off the cliff.