TECHNICALS-VXO

Again, a chart of the VXO kind of tells one that this is not a great place to buy stocks as markets stalled and turned lower several times in the past at these volatility levels.

Markets are sitting at multi year highs with a bit of a stall here at daily pivot resistance of 1327 on SPX and 11,610 on the DJIA. Hardly a mention on bubblevision of the outperformance today of the small caps as IWM is up 1.4% while SPX and DJIA are both higher by .55%.

Keep an eye on the semis as they seem to be the first to turn and right now they aren't looking so bullish up 30 cents and considerably under last weeks highs. The TICK, also a pretty good clue of market direction, spent most of their time +500 earlier, now mostly at the flat line.

Also note the crummy action by the internet stocks on the heels of yesterday's YHOO warning, GOOG is red and EBAY/YHOO are unchanged.

Market internals still very bullish at +2,500.

And is this Dylan Ratigan/Fast Money commercial one of the most annoying commercials seen in a long time.