The Open

Markets are trading lower with the DJIA -27, NAZ -12 and SPX -3.5.

Strong sectors include oils, metals and utils while airlines, biotech, homies, and trannies lag.

Key stocks generally lower with NVDA C XOM KLAC KO MA SMH higher while AMZN MGM MS MTW V TIF NYX leading lower.

NYSE- 540 net losers;

NAZ-470 net losers;

NDX- 25 GREEN;

OEX-33 GREEN;

IBD-50 GREEN;

VIX- higher by 2%;

Up volume about .5X Down volume;

Oil over $111 on news of the draw down;

Gold- up $8 to $927;

Doesn't look like 1360 will hold this morning and I have sold off the SSO - Banks / brokers/tech predominantly red - and if things change or look like they will- they will reappear on my sheets.