So much of life centers around the opposites. The early Greek philosophers were fascinated by the idea of opposites as it was through that lens that one could gain clarity for, afterall, how would you know what good is if you hadn't seen bad? The market has been all good for most of this year. Other than May sell off that didn't last all that long, the central bankers have rewarded the longs by giving them platter after platter of intervention. Its true in Japan, in China, in the U.S, in England and this year the ECB joined in as well. If I read that right, that's pretty much everybody.

This week we are likely to see more of the same with BOE adding to their programs. Last week Japan did. Next month it is likely the Federal Reserve will do so again. At some point Spain will be forced to ask for help and the ECB will kick in on their promises. Its endless and although it remains effective for now, one has to wonder when the tipping point comes and the luster of intervention fades.

Technology has been the pressure for these markets and that is seen best through the lens of Apple Inc. From $707 down to the mid $600s, Apple has shed value in a straight-line fashion. Surely there comes a point where value investors decide it might be worth buying again. This morning it announces 3 million mini iPad sales. Wonder if that will finally give it the short term bounce?

There are some short term positives that should support some sort of bounce but i wouldn't get too comfortable with it. Lots of danger clouds gathering now.