Support holds, but an intraday rally can't persevere

The day opened very choppy and broke lower, little over an hour into the session. Price slightly undercut yesterday's lows and reversed. At that moment, the IMF announced they would revamp credit lines for countries 'in trouble'. That caused a huge spike for about 10 minutes. Needless to say a sell-off followed since we went up too fast in too little time.
A volatile consolidation was next before price went up again towards the morning high and took it out. But then the rally turned into chop again, just like yesterday afternoon. Bigger swings up and down make this market extremely difficult to swing, even very short-term.
After hitting 120 in SPY (1195 in S&P-futures), markets slowly but steadily edged lower. 119 SPY / 1184 S&P-futures became support in the last hour of the session. Bulls tried really hard to get price up, but they failed.

Edit: After hours, market is tanking fast in only a couple of minutes. Today's lows holding so far...

5m-chart SPY:

Daily charts DIA, QQQ and SMH below. Nasdaq outperforming other indices is an important divergence today. Tech was lagging lately, today it's leading again... Maybe we do get a bounce at these levels.

Silver rallied heavy today, almost up 4%. Gold and copper were up as well, but way behind silver. Oil moved back up towards the important 100-level. The euro is moving sideways, but seems to disconnect more and more from the S&P-index.