QUICK FLIP

The markets are lower after being higher at the open as the market internals continue to be the best market tell. The internals opened with 1,500 more winners but quickly flipped to minus 1500. On a quick look, it appears the crushing of the Volatility indexes yesterday and the repellent at the 50 day are casting their typical spell.

The Semis and INTC look to be a good tell as both have opened red and have continued lower. Sectors outperforming include defense, drugs and homies with the laggards being airlines, oils, metals, biotechs and brokers.

DJIA components are mainly lower with INTC and MSFT the biggest losers and PFE and MO the biggest winners.

If your getting too giddy when the markets are ripping higher or too depressed when the markets sell off big check out the charts as there is some great stuff to be found by just looking at the pictures