The Open

Markets open lower - led down by the DJIA -51, NAZ -17 and SPX -6.





Strongest sectors- oils, ags and steel with semis, telecom, china, homies and drugs lagging.





Key stocks- 15/40 in the green led by MGM V NYX MA POT CME GS RIMM UA and XOM- laggards- KLAC C SMH MTW INTC GE WYNN;





NYSE- 825 net losers;


NAZ- 645 net losers;


NDX-27 GREEN;


OEX-35 GREEN;


IBD -58 GREEN;





VIX- higher by 2% and trading 5% below the 10 SMA;





Down volume about 1.5X Up volume;





Crude- flat at $109;


Gold down $10 at $915;


EURO- stuck at 1.57;


10 year Bond- 3.545%;





Markets lower but look to be hanging in ok for now with leadership in oils and some brokers. Technical area near 1360 on SPX has held for now and buying dips may just work- If buying here, wouldn't want to let any losses go much below 1360 as a stop area.





RSI (2) levels have come down a bit and now show as follows:





DJIA 24


SPX 33


NAZ 23


NDX 30


RUT 33



BESPOKE with some target changes and a stretch;