MORNING TRADE

Markets open and trade lower led down by homies, finanicals, brokers, airlines and oils. Big caps are out performing by going down less than the small/mid group.

NYSE internals -2125/ NAZ internals -1400;

OEX: 7 WINNERS- CI SO HD BAX MMM TGT PG - LOSERS- LEH COF MS ATI AXP EK USB BDK;

NDX: 10 WINNERS- XMSR SIRI MRVL SNDK RYAAY ADBE JAVA CELG XRAY CTXS ;

LOSERS- JOYG MXIM BBBY NIHD GRMN NVDA RIMM TLAB WYNN WFMI;

IBD 100 - 2 WINNERS- ASEI GSOL; LOSERS- ACH SNDA OII SNP MA PDA NILE DRYS HURC PCR;

VIX up another 7% and trades 5% below its 10 day SMA.

Technically, the SPX just broke thru the 200 day SMA which is 1457 and the next level of support may be the 38% retracement level at 1442.

I continue to say its gonna be tough for the markets to make upward movement with continued bad news coming out of the financials.

BEN C CFC JPM MA TROW USB IAI BSC GS LEH LM MER MS NMX all lower by 2% or more.