LEVELING

Markets open lower on the heels of downgrades in the financial sector by JPM. the DJIA is -50, NAZ -15 and SPX -9.

Strongest sectors- metals, China, defense, semis, emerging markets and internets;

Weakest sectors- airlines, brokers, financials, banks, real estate and small caps;

NYSE - 1,420 net red;

NAZ- 1,050 net red;

NDX 15 WINNERS;

OEX -20 WINNERS;

IBD 100- 20 WINNERS;

Key stocks in the green -BIDU BG RIMM GOOG MO CELG CME POT MSFT AAPL;

Key stocks red- MS MER TIF GS C VMW BAC GE MA UA DECK GRMN;

VIX - near 24.5 and higher by 3.5%- still 3% under the 10 day SMA;

RSI (2) on various major indexes:

SPX 29

DJIA 32

NAZ 18

NDX 20

RUT 14

MID 27

Technically, the levels that stand out as support are 1,450 on the SPX and 13,165 on the DJIA (61.8 FIB), the 200 SMA on the DJIA also right here at 13,255. SPX 1,450 was a big level before the break on Nov 19, so I am watching it again as an important stopping point.

NDX -2.025 is the number yet again, the 50% retracement.