MORNING TRADE

Markets finally hit with some selling on the heels of the Bhutto murder and more less than stellar economic news on durable goods orders.





Strongest sectors include metals, internets, utils, oils and drugs while China, real estate, airlines, semis and small caps are lagging.





Key stocks- generally lower with the exception of POT BIDU AMZN MA AAPL and UA- VMW MER MTW C MS NVDA INTC and CELG acting the worst;





NYSE- 1,450 net losers;


NAZ- 1,260 net losers;


NDX-10 WINNERS;


OEX-10 WINNERS;


IBD 100- 12 WINNERS;





VIX-trading at 19.7 and up about 5.5% and trading about 7% below the 10 SMA;





Down volume about 5X Up volume;





For those looking to buy stocks lower, lower prices are on the screen- RSI (2) levels now near the 40 level on most major indexes. Volatility indexes a long way from buy signals;

I don't expect the assassination of Bhutto to derail the markets for very long;





Technically, next area of support near the 1,485 level and after that probably 1,475. Note the 50 SMA on SPX at/near 1,483 and DJIA level at 13,400, so hopefully a little back stop not too far from these levels.