MIDDAY MARKETS

Markets continue to trade lower with the DJIA -90, NAZ -22 and SPX -12. RUT/MID's outperforming the big caps.

Sectors- leaders- oil service, china, utils, internets, drugs and ags while airlines, homies, banks, retail and brokers lag.

Key stocks- 12/40 higher- GREEN- BIDU RIMM POT VMW ICE CME MTW MA NYX ISRG- RED- LVS UA TIF CELG GOOG WYNN GS NVDA.

NYSE-540 net red;

NAZ-220 net red;

NDX-23 GREEN;

OEX-30 GREEN;

IBD-100- 50 GREEN;

VIX- +6%;

Up vol- half Down vol;

TRIN- 1.54

Big banks really ugly today with BAC-2%, JPM-4%, WB-7.5% and WFC -6.75%- market internals on NYSE /NAZ much better than overall mkt and index performance. Why- no clue.

An afternoon move higher would not surprise in light of those internals but financials really ugly. So the usual X pointing up and Y pointing down.