NOON REVIEW

I hate to say it, but the SPY knifed right through the 130.1 Pivot Point and turned on the dime at support of 129.7 and it is now hovering under the Pivot. The internals are improving as I type and they are now back to 600 losers over gainers.

The outperforming sectors continue to be Oils, Semis,Homies andMetals. The yield on the ten year Bond is back up over 4.73%.

My take is the markets are range bound for now and dips are to be bought and rips are to be sold.