NO GAP FILL

Looks like that Gap will not be filled today as the lower probability Monday was correct. Has Helicopter Ben earned a new nick name, how about Stock Market Lower Ben? He says the consumer is slowing down and we have to be vigilant against inflation.

The good news on the day, the OIH is getting crushed and my shorts are approaching cover territory. Oh and the Volatility sisters are ripping higher and they are getting back over their 10 day SMA. Not exactly buy territory but a heck of a lot better than last week and note the TRIN well over 2 today, so probably a temporary bottom near here.

One other interesting point is that the 10 year Bond has not moved from the 5% area in spite of the Big Ben's remarks. Telling?

I wonder if W is still happy with Ben, oh well, at least we have Erin back from vacation.