MONKEY MARKETS

The markets are making monkeys of most traders as a lower open, a rip higher on some 10:00 economic news and a fall back lower on pictures of lots of smoke in Beirut as it appears that Nasrallah may be back in the sights of the IDF. Not sure if that is the reason for the selloff but my guess is yes, of course in conjunction with the oversold volatility indexes, overbought short term market conditions, 1260/1265 resistance on the SPX and the UPS guidance.

Market internals opened red, flipped to 2K green and now back to flat. Possible tells for the day include the selloff in oil stocks after the initial rip (bearish), brokers (bearish) and tech now flipping to red (bearish).