THE QUICK

One had to be QUICK to find the entry but it was perfect as the SPY made its high of 130.57 around 2:00 this PM which closed the gap from yesterday's close at 130.53. Straight down from there as the QQQQ SMH also rolled down hill after making it into the black.

One only needs to follow the financials to find the real trend of the day. They had a blip up when the SPX closed its gap, but besides that blip, straight down. Also check the charts on GS and MER, they tell a similar story.

Market internals did flip briefly on the NAZ but couldn't hold as the sellers eventually overwhelmed the buyers. The close at 2,100 more losers than winners is better than yesterday so maybe we get a shot at another bounce tomorrow.

I haven't written much about the new high / new low list but I think they also tell an interesting picture as the best the new high list got was to about 170 between the NAZ and the NYSE at the markets high of last week, and today the list has more new lows than new highs. Doesn't give a lot of confidence in a market that is only X% off a four year high.

And does anyone really care about the Dick Grasso story besides Maria and Charlie? Why is that interview helpful to traders/investors?