RALLY CAPS

Markets are trying to rally on the heels of the dissapointing ISM news this morning and the Chicago PMI yesterday. Not sure if they will make it all the way back as they have regained about half the losses as I type.

Market internals are improving but still bearish at red 1,600.

The Bond is down to a rate of 4.427% and who exactly would loan money at that rate to anyone for 10 years?

Strongest sectors are oils, retail and metals while tech brokers and biotech lag. The semis are not participating in the ramp back so it just may fail today. AAPL is green while GOOG and GS trade in the pink or slightly red.

As mentioned earlier, the oils were the first to rally and the OIH is up a buck and the XLE is a tad green and back over the $60 mark as crude is still lower and trading at $62.65.

The NDX pictured above is at another pullback area and every time since the middle of June it has been a great time to buy.