OPENING CHECK

Markets open lower with most sectors in the red. Market internals also red with about 1,600 more losers than winners so not quite at the Farley rule of shorting pullups in the major indexes when losers overwhelm gainers by more than 1,000 issues on each exchange.

Sectors barely in the green include oils, AMGN, DNA and C. The big losers on the day include GOOG, retailers, trannies, small caps, internets, brokers and drugs.

Question on most traders minds is how quickly the dip is bought by those who felt left out of the rally. I will be watching the IWM and the SMH for clues on the dip buyers.