TRADER LOOK

The Market that offered "buoyancy and resilience" yesterday seems to have faded at the open as DJIA opens -20, NAZ-7 and SPX-3. The market seem to be taking its cue from the SMH, which is down 2% on the ADI miss and if the markets gets jiggy, it will probably show in that sector first along with the IWM small cap group.

Market internals following the SMH as they show 1,700 more losers than winners.

The sector list shows airlines, metals, small caps and techs underperforming and if you are looking for higher prices, that is not an encouraging list.