Midday Look

Markets continue to trade lower with the DJIA -170, NAZ -40 and the SPX -18.

Strongest sectors- ags, real estate, banks and trannies while airlines, semis,tech and metals act the worst. NDX/RUT worse than the SPX/DJIA.

NYSE- 1600 net losers;

NAZ- 1375 net losers;

NDX -11 GREEN;

OEX-20 GREEN;

IBD-20 GREEN;

VIX- higher by 4.5% while the VXO is up almost 9%;

Down volume 4X up volume;

WINNERS- FAST FMCN BBBY UAUA TEVA CCU AEP EP HAL RF WMT GENC CLR SQM SD CMED MON;

LOSERS- HLF WDC ISRG BMI BLK HOLX CTAS LRCX NVDA TLAB CTSH FLEX AMAT GE INTC TYC DIS CBS AAPL ORCL;

RSI (2) levels on DJIA/SPX at/near 14- so not in crazy low territory;

So far- 1340 on SPX holds and a snap back rally this afternoon would not be surprising as the banks are still one of the best performers despite the red number. Brokers have worsened through the day as have big cap tech.