RESISTANCE

The numbers mentioned this morning, SPX 1,390, NDX 1,765 and DJIA 12,200 look like they are providing mucho problems for the markets. Market internals have flipped to flat and biotechs and retail have begun to sell off.

One stat of interest, as the internals have gone flat, the DJIA components have stayed green with 21 up and 9 down.

INTC AIG GM HON and VZ leading the DJIA while MCD HD DIS PG and AA are leading lower.

I am watching to see if the banks and brokers can rebound here, if not the markets will probably not get the typical afternoon lift.