Stocks under pressure despite earnings enthusiasm

S&P 500 falls to session lows

The S&P 500 is down 12 points to 2089 as losses for the week mount. Earnings have been mixed. The market caught an updraft after Amazon crushed earnings.

Shares of the company are up a whopping $15 but the broader market isn't impressed.

S&P 500

The market is in a delicate spot. So far the declines haven't been enough to significantly hinder the US dollar but with bond yields falling and the market fearful about the Fed next week, stocks are vulnerable.

Resistance at 2134 has held once again.

That said, betting on a not-hawkish Fed has been the trade of the decade. Support is at 2078, which is the 61.8% retracement of the July rally.