OPENING LOOK

The markets are have opened to the green side led surprisingly by Precious metals(+1%) and Oils(+1.25). The financials are lagging as all the big banks and brokers are trading red as LEH LM and BSC are leading lower. The 10 year Bond is back over 5.12% and that is also preasuring the homies.


The market internals are bullish with 1,300 more winners than losers and the Volatility sisters are trading a bit higher digesting the weekend decay.

SPY Pivot point is 131.3 with support and resistance at 130.9 and 131.9 respectively. The day is shaping up as a good one to daytrade the indexes and I intend to buy the dips to the pivot and sell any rips into resistance.