MIDDAY LOOK

Markets have gone south led by the banks and the financials as each and every big bank/broker has flipped to red. The SPX -5, DJIA -75 and NAZ -8.5.

Strongest sectors include shipping, solar, steel, ags, oils and metals while the aforementioned financials act the worst followed by real estate, gaming and reits.

NYSE 362 net losers;

NAZ- 625 net losers;

NDX- 20 GREEN;

OEX-25 GREEN;

IBD-70 GREEN;

VIX-down 1.5% despite the lower markets;

TRIN- 1.09 with down volume about 150% of up volume;

GOLD- $888;

CRUDE- $134;

EURO- 1.552;

10 YEAR NOTE- 4.207;

Markets getting sold again with financials being the first sale on the list- the GS numbers were good but the stock ran up the last few days into the number so no surprise it is lower.

Also - over head resistance at SPX 1370/1385 so there you go.