FEDSPEAK

The markets have done an about face and drifted lower on the heels of a hawkish fed speak.

It is interesting that homies, techs, AAPL EBAY YHOO have stayed green despite the selloff. Losers are semis, metals, biotechs and consumers.

Market internals have also flipped to flat while the 10 year Bond still trades at the 4.81% area so fed speak not impacting the fixed income gang.

I still think we will get a lift before the day is out as this may be the pause that refreshes.

Depressed Red Sox fans can take some solace in the fact that they may not be the best team in the A.L. east, but they do have the best video clip of the week brought to you by NESN.