DIPPERS

So far the dippers have decided not to show as the gap down remains in play. The market internals are getting a bit stronger at 1,100 to the red and leading sectors are oils, semis, retailers and drugs. Worst groups are biotechs, internets, airlines, homies and metals.

I will be watching for some jig in GS C and the IWM for an indication that the market is going to turn higher.

Chicago PMI comes in at a better then expected 57.9 V 56 expectations.

The 10 year Bond is back at 5 even and it will be interesting to see if the bulls decide to buy.