OPENING EYES

The Indexes have opened mixed with the NAZ lower and DJIA higher. HOWEVER, the market internals are telling quite a different story with 1,000 more losers than winners. Generally they are the best tell of all and therefore do not be surprised by an upcoming selloff.

The 10 year Bond is back over 5.03% and the homies are taking the brunt of the rising rate trade. The recent winning sectors of Oils and Metals are both lower this morning with tech titans GOOG and AAPL trading higher. The beaten down INTC is trading up a nickel in the face of last nights earnings "miss."

The Pivot on the SPY today is the 130.75 area and support and resistance are 130.4 and 131.3. The market internals are giving me pause and I probably will not buy if the pivot point is hit. I will probably spend the day on the sidelines unless the internals start to flip nearer the greenside and as a final note, why am I listening to chinese on tv?