PRE OPEN

Futures are trading down a bit this AM while crude is also down at $125.25 and gold down $7 at $863.

Gapping up- XRIT CRME FRE FLML ESLR HMIN UA JOBS DSX BHP SPLS OI CCU;

Gapping down- APP MBRK ASEI WFMI DE SOL CHDX GOLD ERTS NLY EXR;

VIX- trading about 5% below its SMA 10;

MID (+1.8%)- turns positive for the year while the RUT is not far behind as both leave the financial laden SPX/DJIA in the dust over the last few months. Note also how the NAZ/NDX, which were down almost 20% for the year less than two months ago are now down 6% and 4% respectively.

RSI (2) levels coming in to today's trade:

SPX- 65

DJIA -46

NAZ 87

NDX 85

RUT 93

MID 95

XLF 34

BKX 24

XLE 82

OIH 69

DFX 88

DRG 41

GLD 12

SLV 30

XRT 90

RLX 70

MSH 88

SOX 89

HHH 91

SMH 92

XLK 81

Some fun links:

Chafee on W;

BESPOKE on the UPTREND;

Barry on Positive Thinking;

The new SURGE;

DIG DUG and the P/C Ratio;

Dr. Brett with the Truth;

Adam on the VIX trades;