THE WEEKEND

Big cap indexes continue to trade lower with some strength found in the NAZ/NDX and the RUT (flattish). Metals and oils act best while financials, real estate, homies, retail and large cap value act worst.

I will go along with the Bill Miller take that lots of money will be made on financials over the next 5 years, just lemme know when/where we come close to the bottom.

The internals on the NDX/OEX/IBD 100 act better than all the indexes as the NDX/IBD show 60% in the green while the OEX are close to 50/50. The IBD 20 also acts pretty well as ABX NOV RIMM HAL GILD YHOO WFT HPQ and XTO are all green.

Key stocks- also about evenly split between winners and losers as BIDU NVDA MTW DECK CAT INTC GOOG all solidly green while the usual suspects such as MER LVS MS BAM GS VMW WYNN are all red.

VIX up a bit more than 3% and about 15% above the 10 day SMA;

Surprisingly, the up/down volume on the NYSE is not showing any strength as down volume is almost double the up;

RSI (2) on major large cap indexes still in the mid teen level and I will be waiting for a better signal to buy. My suspicion is we won't roar out of the gate on Monday, and midday may be a time to get in for a short term flip.

Oh and go Colts-