BRUTAL

Markets not quite in crash mode but seem to be getting close- DJIA -230, NAZ -44 - SPX -27 and the rally from Tuesday seems like it was years ago.

Strongest sectors- metals, biotech, oils and semis while brokers, airlines, banks, insurance and gaming are the worst.

Market internals - 8/1 red on NYSE and 4/1 red on NAZ;

NDX - 4 GREEN;

OEX- 7 GREEN;

VIX - higher by 8% and nearing the supposed magic 30 number;

Markets are very weak and my guess any break of the recent low at 1,270 may bring on BIG selling.

Gold at 1k and oil at/near 111-

I suspect that markets will get worse over the next few months and a crash bringing the DJIA to 10,000 may not be far fetched. Would anyone be surprised to see a major problem at a big broker/bank? And if you think its all priced in to the cake- just watch BSC.