LEVELS

That 131 level on SPY has certaintly become a battleground as the Resistance level has not disappointed. The major market indexes (NAZ -2, SPX-2) are holding much better this morning than the market internals which are 1,150 to the red.

The sector movers are Metals and Oils higher with Homies and Fixed Income a bit lower.

I am watching the SPY and looking for a break down to the 130.5 area as a buying level (initial daily support).

My QQQQ's are now gone (42.66) as it is not in my book to keep them with the 2 day RSI nearing the 100 level.