2:30PM: The speed of selling slows some as the market bounces off its lows... The Nasdaq has held at a support level - 1915 -
2:00PM: Bears continue to make their mark on the market, sending the indices even lower in the past half hour... At this point, the Dow, Nasdaq, and S&P 500 are all down 83, 16, and 9 points, respectively, since the sell-off began last hour... A program trade most likely brought about this intense selling, which saw the major averages fall through a number of key support levels... The market's inability to hold its earlier bid - particularly as crude oil lifted off its lows and is now showing slight gains (at $52.58/bbl) - has provoked traders to change their positions...
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