FEAR HERE

A little anxiousness as markets are trading lower on the heels of some crummy C numbers, rude crude trading above $85 and big layoffs at TWX as the DJIA trades down 115, NAZ -19 and SPX lower by 11.

The VIX/VXO now higher by about 10% and at/near the magic 10% above the 10 day SMA buy signal.

Two day RSI numbers not quite at buy signals but definitely over sold near the 20 level for the major indexes.

Market internals getting worse as the day goes on and financials about the worse performing sector along with internets, real estate and airlines. Sox/semis hold up surprisingly well while other techs such as AAPL GOOG BIDU AMZN HPQ RIMM are all lower.

Down volume also about 3x Up volume.