8:09AM: S&P futures vs fair value: -13.8. Nasdaq futures vs fair value: -14.5. Market indicated lower again this morning, with followthrough selling from yesterday and weakness seen in European markets. AMZN and EXPE getting hit on earnings, but not major stories for the market. Several upgrades this morning unable to turn the tide: C by JP Morgan, the RBOCs at Morgan Stanley, IRF and FCS at Lehman, APC and VPI at Merrill.