The market has been down for most of the session after an early rally fizzled, but buyers are being met by sellers midway through the day.  As I have been pointing out, pressure on big growth and momentum names influences the market exponentially because of the way the major indices are weighted.

It’s going to be really interesting to see how the last hour of trading unfolds. 

Meanwhile, the value trade is back on, which means opportunities in names that do not invoke excitement but have solid risk-reward dynamics.

These sessions are great for testing the resolve of investors, especially when it comes to big growth names, which have paused and pulled back many times during their magnificent rally.

All eyes are on Netflix (NFLX), which reports earnings after bell - looking for huge beat, but the initial reaction is always a coin toss. I would hold if I already had the stock, and we might be buyers on dip.